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As amount increases, numerous individuals may need debt relief

| Feb 11, 2019 | Debt Relief |

Money problems as a whole are not a unique issue. Unfortunately, many Louisiana residents and those elsewhere struggle with financial issues. However, each person’s exact struggles are different and so are the ways in which they choose to seek debt relief. In any case, it is important to remember that relief options are available.

It was recently reported that Americans are currently carrying a substantial amount of debt. Since 2013, that debt amount has increased by $1 trillion, and the total amount of consumer debt reaches nearly $4 trillion. The report breaks down that amount as $1.6 trillion in student loans, $1 trillion in consumer credit and $1.2 trillion in auto loans. While many people work to pay off their outstanding debt, money mistakes can easily lead to difficulties.

One woman gave her account of how years of financial mistakes put her finances well off track. She stated that she had several credit cards and had been using them since her days in college. As a result, she accrued over $20,000 in debt, and she stated that she did not like talking about her debt issues because it was overwhelming. After struggling financially for 18 years, she filed for bankruptcy and was able to get her financial situation back on track with the help of a credit counselor.

This woman’s story is similar to numerous other individuals, and if parties in Louisiana are struggling due to credit card use or other debt problems, they may also want to find their best debt relief options. Bankruptcy can prove immensely helpful to those with overwhelming debt, and gaining information on this option may be wise. Experienced attorneys can help concerned people understand how bankruptcy works and who may qualify.

Facing Overwhelming Debt?