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.
Economic challenges have plagued many Oregon residents, especially since the recession began. Even with some signs that the economy is rebounding, many people continue to struggle and face ongoing threats of repossession, wage garnishment, bankruptcy or more. Asset forfeiture can affect a person’s ability to keep a car, a home or any other type of personal property that has some real value.
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.
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.
In a recent post we offered tips to reduce credit card debt during the holiday shopping season. Still, there will be many people in Lane County who using plastic to purchase all of the gifts, goodies and gadgets on their list, confident that they will have enough money in the coming months to pay the balance down. Statistics show that consumers in Oregon and the rest of the nation are spending more for the first time in a long while.
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.
Filing for bankruptcy is a viable option for those in Lane County who are truly struggling with overwhelming debt. It is not a decision that should be made capriciously or used to discharge debt that you simply don’t want to pay. Failure to comply with federal and state bankruptcy laws can result in monetary fines. Your bankruptcy filing can also be denied altogether if you negligently or fraudulently apply for bankruptcy.
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.
Consumers struggling through the continued challenging economy know the fear of losing valuable possessions as well as the stress of being unable to pay their bills. Depending upon the situation, a creditor can garnish your wages or take your car, home or other belongings. The need to stop repossession, garnishment and more is shared among many Oregon residents.