With the Great Recession nearly a distant memory, many people have begun to recover from financial challenges and are braving credit cards and other loans again. It can be good for Eugene residents to borrow in some cases. In other cases, this can lead to renewed financial woes. Credit card debt is especially challenging and can be difficult to recover from.
Oregon consumers facing high debt may often feel they have nowhere to turn and can be unsure of their options. Concerns about filing for bankruptcy can often make them seek out other solutions that may actually cause more harm than good down the road. A Chapter 7 bankruptcy can often help eliminate creditor harassment, credit card debt and the financial challenges associated with high interest credit cards.
High debt of any sort can be extremely troubling for residents in Oregon. The cause of financially challenging times can range from unemployment to unmanageable credit card debt and more. Medical conditions can also exacerbate situations and force people to rely on credit cards or other forms of unsecured debt for even basic living needs. Consideration of Chapter 7 or Chapter 13 bankruptcy often becomes one way that debtors look for help in these situations.
Consumers in Oregon and around the United States continue to struggle with piles of debt even as the economy improves. For people who cannot afford minimum payments or are behind on regular monthly payments, the need for help to get things back on a better financial track is real. The best solution for one person is not likely to be the same as for another as every person’s circumstances are unique.
Even before the recent recession, many people in Oregon and throughout the country struggled with debt. From credit card debt to medical expenses or tax bills and more, there is no end to the type of debt which can cause serious problems for consumers. Some people try to decide if working to keep paying off debt or if filing for bankruptcy is the better option. There is no one-size-fits-all answer for that as each situation is completely unique.
As the national economy works to continue rebounding, Oregon residents also look to the state and local pictures for signs of ongoing improvement. During the recessionary years, many people throughout Oregon were hit hard by credit card debt, unemployment, medical expenses and more. Some people chose to file for bankruptcy, others worked with creditors to identify acceptable payback options. Still more struggled with delinquent payments and high interest charges. Ironically, credit card debit is associated with both financial challenges and a healthy economy.
Oregonians, like their counterparts in other states, have felt the financial challenges of the recent years. While our nation continues to struggle to recover from the latest recession, individual citizens remain committed to repairing their financial health as well. For some people, concerns about credit card debt are at the top of their list for what areas they wish to focus on in this New Year.
When consumers take on more debt than they can handle, creditors sometimes turn to wage garnishment to collect the outstanding balance. Since there are a lot of questions surrounding this form of collection, we thought our readers in Lane County who are being harassed by creditors threatening to garnish your wages would be interested to learn more about the process as well as your legal rights.
With the holidays just around the corner, many Americans will be incurring more credit card debt buying gifts and gadgets at deeply discounted prices. No matter how low the sales price, however, it isn’t a good deal if you will be paying interest on your purchase for the next year. Instead, we urge our readers in Lane County who are struggling with credit card debt to resist using plastic to pay for holiday presents and use some of that holiday bonus to buy gifts; the rest can be used to pay down the balance.
There are many different reasons that couples in Lane County, OR choose to get married—to celebrate love, to start a family and to enjoy financial benefits. That last one might not be very romantic, but it is very real. Married couples often qualify for a lower tax bracket, realize cost savings on insurance and can qualify for a larger home by purchasing it together. That being said, before you take out a loan together it is important to take the financial history of each person into account.