Oregon residents and others may be aware of the wage gap. However, they may not know that there is also a debt gap between men and women. On average, women have higher student loan, auto loan and credit card balances compared to men. Those who are trying to get out of debt should start by paying back the balances with the highest interest rates.
Having a baby is something many young people dream about for years before it happens. Having a little one to take care of can lead to some of the most rewarding moments life has to offer. In the meantime, though, there are almost sure to be financial strains while you adjust to life with the newest member of your family.
Medical debt may represent a significant financial challenge for some Oregon residents. The Kaiser Family Foundation found that in 2016, around 20 percent of people who were of working age and who had insurance said they struggled to pay medical bills in the past year while a 2017 study found over 40 percent said they struggled to afford the deductible.
If you have significant credit card debt you may feel like you are drowning and will never recover, but this is not true. While credit card debt is serious, there are ways you can repair your financial situation and dig yourself out of the hole you are in.
Debtors in Oregon may try to settle their credit card debt for less than what they currently owe. They can choose to do so either on their own or with the help of a debt settlement company. However, there is no guarantee that credit card companies will agree to reduce a debt balance. If some or all of a balance is forgiven, it may need to be reported as income on a future tax return.