Some people in Connecticut may be struggling with substantial student loan debt. The total student loan debt nationwide is $1.59 trillion. Unfortunately, student loan debt is rarely dischargeable in bankruptcy.
People in Connecticut who are struggling with medical debt are not alone. They are among around 137 million people throughout the country who are in the same situation. Many of them are like one 59-year-old woman who lost her job in 2013 and could not keep up with her COBRA payments.
New Jersey consumers who are in debt have several options to reduce or eliminate it. There are many factors that may influence which tools they use to reduce the amount that they owe to creditors. For instance, those who make $100,000 a year may be able to commit to paying creditors in full without the need for a debt settlement or bankruptcy. Those who have a limited income may want to pursue a Chapter 7 bankruptcy.