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December 2013 Archives

What if your bankruptcy isn??t working for you?

In many cases, Washington residents file for personal bankruptcy in the hopes that the process will lead to the elimination of debt or the ability to reorganize their existing obligations in a more manageable way. However, each type of bankruptcy offers different protections and tools, and it is important to select the right path when deciding how to file. In some cases, consumers find that the path they set out upon is not the best one to a debt-free future.

Managing holiday credit card debt: Tips for Washington consumers

Despite evidence that consumers in Washington and across the country have been more conservative with their credit card usage since the recession, it is tempting for even the most careful person to charge more during the holidays. In fact, one credit management organization reported recently that January is a busy time, due to people who are trying to get a handle on credit card debt. While there are smart ways to pay down this debt, consumers can also plan throughout the year in order to avoid it in the first place.

Individuals in debt and facing foreclosure

Individuals in Washington saddled in debt need to be informed about all of their financial and legal options.  While filing bankruptcy may allow one to discharge most of one's unsecured debt, every situation is unique.  Besides unsecured debt, we also must take into consideration what is to be done regarding secured debts.

Though numbers of those in debt decreases, debt balances rise

Though it has been reported that the percentage of American consumers with an account in a third-party debt collection system has fallen during the third quarter of 2013, the average account balance facing collection rose.  One economist reported that balances on these accounts increased in "essentially all types of debt."