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March 2017 Archives

Is medical debt as stressful as actually being sick or injured?

Recent research suggests that debt resulting from medical services could be even more stressful than the illness or injury that led to the need for care. That may come as a shock to some Washington readers, but many others will be able to sympathize with the overall results of the study. For those who are living under a heavy burden of medical debt, stress levels can be nearly overwhelming.

Refinancing could help reconfigure mortgage debt

Owning a home has long been known as the ultimate American dream, and is a goal to which many people still aspire. However, when circumstances shift, many Washington residents find that retaining their home is a challenge. Faced with mounting bills and decreased income, mortgage debt is a stressor that can begin to feel overwhelming. Fortunately, there are ways to overcome crushing levels of debt, including refinancing a home loan.

Can Chapter 7 eliminate judgments for business debt?

When a business venture fails in Washington, it is not uncommon for the business owner to be thrown into financial turmoil. Filing for Chapter 7 bankruptcy is one way to help climb from under a crushing debt load. However, it is important to understand how bankruptcy impacts existing business debt, including judgments.

A powerful approach to lasting debt relief

Once debt has reached an untenable level, most Washington residents are more than ready to take action. Determining how to best approach debt relief, however, is not always a simple or easy task. In order to truly gain freedom from overwhelming debt, it is necessary to try different approaches until the best possible fit is discovered. The following approach uses a combination of tactics to help consumers achieve lasting debt relief.

Without debt relief, entrepreneurial efforts could decline

One of the most deeply held American traditions is that of entrepreneurialism. The desire, talent and motivation to take an idea and bring it to fruition is endlessly impressive, and the economy in Washington and other states is improved through the many new business endeavors that take off each and every year. Some experts, however, believe that student loan debt could keep many people out of the entrepreneurial game. Unless debt relief becomes widely available, this could have a negative impact on the state's financial health.