The value of a college education is still considered to be one of the most important assets that a young person can gain. However, the cost of higher education has grown considerably over the years. In many cases, students graduate with unmanageable debt, and with little prospects for repayment in a timely manner. This can lead to a scenario in which California residents are targeted for student loan debt relief scams. It is important to be aware of the warning signs that a debt relief offer is simply too good to be true.
Debt is becoming more commonplace in American society. In fact, a new study has found that the average American is nearly $28,000 in debt, and that figure does not include mortgages. However, experts have come up with five steps that will help to make unmanageable debt manageable for consumers in California as well as in the rest of the country.
As retirement approaches, many California residents find themselves far from prepared to set aside their careers and move into a new phase of life. Often, financial strain and a series of unforeseen circumstances leave individuals unable to begin retirement in the way that they once imagined. A significant percentage of aging Americans are facing unmanageable debt, just as their working lives are beginning to wind down.
Many California residents are continuing to feel the aftereffects of the recent recession, and are struggling to regain financial stability. For some, high levels of credit card debt are a major concern. Others face home loans that are for more than their property is currently worth. Still others are saddled with old tax debt, and see no way of paying down those obligations. It is important for consumers to know that it is possible to eliminate tax debt through a Chapter 7 bankruptcy.