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Russell G. Small

June 2019 Archives

Cautious millennials are now accumulating more debt

Once known for their cautiousness with being burdened by financial obligations, millennials and their younger Gen Z counterparts in Connecticut and elsewhere in the U.S. are accumulating more debt. Some of this debt is student loan debt, which can be a "good" kind of debt since interest rates are usually low. It's the rise in credit card debt among younger generations that's especially worrisome.

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.

How can we help?

Financial Freedom Is Just A Call Away

When you are overwhelmed by debt, we can help you explore your options and find relief. Should you choose to file for bankruptcy, calls from creditors and debt collectors come to a stop almost immediately, allowing you to get back to living your life.

Call us today at 800-261-3275 or contact us online to schedule a consultation. Our firm offers evening and weekend appointments and home visits. Credit cards and payment plans are accepted. Se habla Español.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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