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debt relief Archives

Is bankruptcy right for me?

If you are struggling to pay your debts and barely making ends meet in North Carolina, you may be feeling stressed out about your financial situation. You may also be considering if you should file for bankruptcy to put an end to the harassing creditor phone calls and endless bills you are receiving. Even though bankruptcy may seem like a cure-all for your financial troubles, it can have some serious ramifications for your situation. 

Debt relief companies punished after scamming customers

When people in Durham are facing large debts, it can be very tempting to look for an easy way to make the problem go away. While there are many legitimate companies that help consumers handle their debts, there are also some who advertise heavily yet provide little or no benefit to those who need financial assistance.

Study finds many have outstanding debt when they die

While some people in Durham are able to live their lives debt-free, for many others, that simply is not possible. There are numerous reasons why people choose to take on debt, such as buying a home, starting a business or earning an education. Unfortunately, paying off that debt will not be a reality that everyone will be able to accomplish in his or her lifetime.

Are there disadvantages to transferring my credit card balance?

Like many people in North Carolina, carrying a large balance on your credit card may be a source of stress. If you have received an offer from a different credit card company to transfer your balance at an introductory interest rate of 0 percent, it may be tempting to immediately accept. Here is what you need to know about accepting an offer to transfer your balance.

Seniors are the fastest growing holders of student loan debt

A college education is something that many people in Marietta want but very few can afford to pay for tuition and other costs out of their own pockets. Therefore, many families end up taking out student loans in order to afford to send their children to college. When parents, and even grandparents, co-sign for such loans, they often do not realize that they are taking on a financial burden that will follow them as they get older.

Lawsuits filed against Navient for misleading borrowers

When debt piles up, many people in Durham may struggle with how they are going to pay it and which loans should get paid off first. Student loans are a major source of debt for many people in North Carolina and across the country. While loans for education are given by both federal and private lenders, collection duties are often contracted out to third-parties.

Are there any downsides to student loan forgiveness?

If you live in North Carolina and are struggling financially, you would most likely be relieved to receive some form of forgiveness that would alleviate you of the burden of your student loan debt. You would be far from alone on this. According to the Huffington Post, student loan debt is on the rise and 11.8 percent of borrowers are currently in default. While having student loan debt forgiven is obviously helpful to you on a personal level, there may be some more widespread implications to think about.

Forgiven debts may lead to tax bills for some

Under some circumstances, people in North Carolina may have debts that they owe forgiven. For instance, a credit card company may agree to forgive a consumer’s debt after a certain amount of time or a settlement may be reached where the company agrees to accept a partial payment. However, the consumer may then be liable to pay taxes on the amount that was forgiven.

Companies look to debt relief as a way to woo employees

Many people in North Carolina who have a high number of financial obligations may feel overwhelmed and stressed out about how they are going to pay back what they owe. Most people rely on their jobs as their source of income, but sometimes it may not be enough to get out of debt.

Using a personal loan to pay off an existing debt

People in North Carolina who have a lot of debt may have heard about person loans and wondered whether they are a good idea. While using a loan to consolidate one’s debt can be beneficial for some, it is not always a wise solution for everyone. It largely depends on a person’s discipline and spending habits.

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Durham Office
3200 Croasdaile Drive
Suite 504
Durham, NC 27705

Toll Free: 800-610-3643
Phone: 919-794-8660
Fax: 919-382-2042
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Henderson Office
1775 Graham Avenue
Suite 104
Henderson, NC 27536

Toll Free: 800-610-3643
Phone: 919-794-8660
Fax: 919-382-2042
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