credit card debt

Credit card debt is often a common problem for Connecticut residents and others across the country. Many may have trouble saving enough money each month to build up a savings account because of other required bills that must be paid. Whether someone has a mortgage, credit card debt or even student loans to pay, many end up sacrificing their savings by the end of their pay cycle; potentially placing them into a jam if they're living paycheck to paycheck and have an unexpected circumstance occur.

Debt collector calls are something many Connecticut residents may have experienced. For all the collectors who are seeking repayment of a debt through the normal channels, some debt collectors take their actions much too far, resulting in a headache for consumers and possible legal trouble for those responsible. Any resident burdened by credit card debt or experiencing trouble paying their bills may wish to research bankruptcy as a viable option.

Connecticut residents logging into their Facebook accounts may soon find a nasty surprise waiting in their inboxes. Credit card debt agencies and other collectors are already known for harassing debtors at their homes and places of employment. Some are beginning to take it a step further and target people on social networking sites. One woman was subjected to this after she logged into her account and was confronted with a message asking her to call someone about a debt she owed.

A new study found sobering statistics concerning credit card debt affecting younger generations across the country. Connecticut students and younger adults already in the workplace may find the trap of credit easy to fall into. Credit card debt can be difficult to shake, but for those whose debts far exceed their ability to pay, options such as bankruptcy protection can help them confront their debt in a responsible manner as they get back on their feet financially.

Credit card debt can be a source of stress for Connecticut college students, but sometimes such debt is one of the only ways someone feels they can afford all the pressures of college. With tuition, books, dormitory and other costs, parents may find they are unable to afford everything their child needs. This is where some college students turn to using credit as a way to fund any additional expenses, often times resulting in high credit card debt.

The holidays will soon be upon us and with them, the high likelihood of credit card debt. Reports show that credit card debt has risen by 4.9 percent just from the months of July to September of this year. Last year around this time, over 14 percent of Americans stated they were still paying off the debt they incurred from the prior Christmas. If the same trend occurs this year, it could very well land some Connecticut Christmas shoppers in debt that could be hard to get out of.

Many Connecticut residents may have struggled with credit card debt at one time in their lives. However, it could be important to note that some of those credits charges may have been fraudulent. When a credit card number is stolen, many charges come from sex-related internet sites. Although the credit card company will deny the charges, collection companies may step in and purchase the fraudulent debt for relatively little money in order to attempt to force the consumer to pay off the credit card debt.

It's little surprise that more consumers are beginning to fight against credit card debt. With high incidents of identity theft and erroneous reporting information in Connecticut and around the country, consumers are sometimes left holding the bag. A recent fight over credit card debt has highlighted the practices of debt collection agencies across the nation.

Many residents of Connecticut have received harassing debt collection calls. With the massive amount of job loss and the current state of the economy, Americans are being plunged into debt and can sometimes find themselves receiving relentless calls from collection agencies and other debt collectors. Fortunately, the federal government is beginning to take a closer look at those agencies and is beginning to fight against what can sometimes be overly aggressive and unscrupulous practices by these agencies.

Connecticut residents struggling to pay their bills may relate to a recent story about consumer debt. Currently, consumers fed up with credit card debt collection practices are filing lawsuits in droves. Every month since the start of the year, the number of lawsuits filed by debtors and credit card customers has risen. From January through May of this year, there were 6,256 lawsuits filed. This May saw three times as many lawsuits as the same month five years ago.