Many adults carry student loan debt well into their post-college lives. For some, this obligation, combined with other expenses, creates a serious financial strain. Those looking for debt relief have a number of options, including consumer bankruptcy and loan consolidation. The two approaches are not mutually exclusive, although many Maryland residents hold that misconception.
Loan consolidation and consumer bankruptcy
Bankruptcy protection may resolve overwhelming credit card debt
It has been reported that most consumers nationwide, including in Maryland, are burdened with credit card debt that they would likely prefer not to have. In fact, the average credit card debt per household is reported to be at least $15,000. Unfortunately, some consumers wait too long before trying to tame credit card debt. Eliminating debt is not something that can be achieved overnight, and those who are overwhelmed by credit card debt may benefit from researching how bankruptcy protection can resolve their financial problems.
