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June 2019 Archives

Dealing with overwhelming medical debt

Many Connecticut residents are struggling with high levels of medical debt. It may seem nearly impossible to pay off expensive health care bills. In fact, around 30% of all Americans have over $500 in unpaid medical debt. Medical debt, like other kinds of debt, can have an effect on one's credit score. This means that unpaid medical bills can also lead to challenges when buying car insurance, renting an apartment or seeking a loan.

Lawmakers work to help student loan borrowers

Many different types of debts can be discharged in a bankruptcy. However, student loan borrowers in Connecticut may not be able to get their debts cancelled through this process. That is because lawmakers in previous decades felt that students would try to get out of paying their loans by discharging them after graduation. To get a student loan erased in bankruptcy, a borrower needs to show that he or she cannot keep paying because of an undue hardship.