Many American consumers do not know they owe money

In Maryland and across the United States, a lengthy marriage culminating in divorce may cripple a spouse's financial circumstances. Many women with children were previously living comfortable lives only to find themselves financially struggling as single individuals. Numerous divorced seniors must cope with living on fixed Social Security payments. According to a recent U.S. News & World Report survey, 20% of consumers living in the United States do not know if they have any outstanding debts.

Have your debt problems led to insolvency?

When you wake up in the morning, do your thoughts immediately go toward how little money you have in your bank account and how many bills have piled up on your table? If so, you are not alone. Numerous people in Maryland and across the country struggle with financial issues that they feel are insurmountable.

Why younger people are struggling with credit card debt

Generally speaking, younger adults in Maryland and throughout the country were less likely to use credit cards or take on debt. However, new data indicates that 8% of credit card balances among individuals aged 18-29 are 90 days or more past due. Younger individuals are signing up for credit cards in greater numbers because credit card companies are offering perks that they desire. These perks include travel credits and cash bonuses upon signing up for a card.

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With our hands-on approach to your case, we will ensure all of your concerns are addressed. Sit down with a bankruptcy attorney at our firm. We will work to get a holistic view of your financial situation so we can offer a practical path forward to a new financial future. Send an email now to schedule your free initial consultation. Appointments are available now at our comfortable offices in Greenbelt.

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