The past several years have been among some of the hardest economically for our nation and the world in recent decades. As residents in Oregon, along with the rest of the country, work along with a slowly revitalizing economy, some still struggle with credit card debt, delinquent payments, loan negotiation and more. Many people find that filing for bankruptcy is their best option while others work to wipe out credit card debt month by month.

Recent news reports seem to indicate that there is some improvement in consumers’ efforts to reduce delinquencies in payments of various types. According to the American Bankers Association’s Consumer Credit Delinquency Bulletin, any payment made beyond the initial 30-day period is said to have been delinquent. In recent months, payments to lines of credit or home-equity lines have reported a sharp decrease in such late payments.

Credit card payments did record a slight increase in the number of payments made after 30 days recently but those still occur at a lower rate than they have on average in the last 15 years. Sources cite higher wages and a greater number of jobs along with an improving real estate market as some contributing factors to these numbers.

Progress may be slow but it appears to be the trend for now. That does not, however, mean that some people cannot still best be helped by bankruptcy. Similarly, many people still need help to end creditor harassment. If you find yourself in a tough financial situation, you can talk to a lawyer to see what options may be available to you.

Source:, “Consumer Delinquencies Fell Significantly in Third Quarter, Except Credit Cards,” January 9, 2014