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Posts tagged "Debt Relief"

Debt relief companies taking advantage of student loan borrowers

The crushing burden of student loan debt that many graduates have to shoulder after completing school is familiar to thousands in Kentucky and across the U.S. With the still-stagnant economy, many new graduates are finding it difficult to find employment and cannot make their student loan payments. Many have problems meeting basic living expenses, let alone student loan payments. The New York Federal Reserve reported that about 6.7 million, or 17 percent, of student loan borrowers are in default on their loan payments, meaning that they are 90 days or more overdue in paying.

Emotional issues are part of the problem that surrounds bankruptcy

The emotional anxiety people feel caused by filing for bankruptcy protection may be greater than the anxiety resulting from their financial problems. They may feel grief, sadness, shame and other negative emotions. They often feel alone and isolated, and the stress can become circular, with financial problems feeding the stress on relationships, which can further undermine their economic situation.

2013 brings more credit-card debt for Americans

Our Kentucky readers may have noticed that our overall debt as a nation has decreased. According to the Federal Reserve Bank of New York, America's total debt fell a nearly $74 billion in the third quarter, but credit-card debt actually went up an estimated $2 billion during the same time period.

Kentucky residents - know your rights in debt collections

Many people in Kentucky and elsewhere start out the New Year with the goal of spending less and saving more, and if you are already on the radar of debt collectors that goal can become even more difficult. Whether credit card debt, student loans or other types of debt there are more than 30 million Americans targeted by debt collectors today, according to the Consumer Financial Protection Bureau. Thus it may be a good time to remind consumers of their rights when it comes to the Fair Debt Collection Practices Act.

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