Wootton & Wootton, P.C.

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debt relief Archives

Should you consolidate debt or file for bankruptcy?

If you are trying to navigate your way through overwhelming debt, you know how stressful it can be. You are not alone in this feeling; many Americans are dealing with debt. In 2017, the amount of debt in the U.S. climbed to a new high at $13 trillion. That amount was $280 billion higher than the previous record high back in 2008.

Collections attempts may cause many to seek debt relief

Dealing with debt issues can often make North Carolina residents feel embarrassed. They may think that other people will judge them for the state of their finances and also feel uncertain as to how to find the debt relief they crave. Individuals in this predicament may also fear what debt collectors may do in order to attempt to obtain payments.

Settlement may not bring as much debt relief as bankruptcy

North Carolina consumers dealing with substantial debt rarely find their financial situations easy to handle. They may scrap and save, hoping to make a dent in their outstanding balances, only to never see much impact. As a result, they may begin exploring various debt relief avenues, and for some, a debt settlement may seem appealing. However, many individuals may not fully realize the impacts of this option.

Debt relief scams may leave North Carolina debtors worse off

Many North Carolina residents hope to find the best way to handle their outstanding debt. The idea of facing considerable balances can often lead to stress and anxiety, and for some, getting debt relief help may seem too good to be true. Unfortunately, some companies who claim to help debtors get out from under their liabilities only work to make matters worse.

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.

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Durham, NC 27705

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Henderson, NC 27536

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