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News shows that debt relief is good for your health

Do you think that bankruptcy law is only relevant to your financial future? Think again. A new study shows that bankruptcy protection actually leads to longer lives for those who are afforded additional help. Washington residents who are denied the benefits of bankruptcy protection may live shorter, less-fulfilling lives; all the more reason for our government representatives to push for increased measures to provide debt relief for those who need it.

Should you choose a debt consolidation mortgage?

If you are considering consolidating your credit cards and related debt into another mortgage, you might want to think twice. Experts say that although credit card debt may be addressed by debt consolidation mortgages, the terms have become far more conservative in recent years. Washington residents should know that lenders are now requiring homeowners to maintain as much as 20 percent of the equity in their homes before cashing out the mortgage.

Why so many people are weighed down by credit card debt

Those no-good credit card companies -- they are always trying to cause problems for borrowers through nefarious and underhanded tactics. Many Washington residents who are suffering under the burden of credit card debt may have gotten into their current situation through little fault of their own. One of the main culprits: the pre-approved credit offers that tempt them into spending too much.

1 in 3 Americans may need debt relief from collections accounts

If you are one of the many Americans who are facing calls from collections agencies, you are not alone. Would you believe that more than one out of every three Americans has a debt or unpaid bill that has been sent to collections? Consumers fall behind on medical costs, credit cards and even student loans or gym memberships, prompting the need for comprehensive debt relief. In too many cases, though, consumers do not receive the financial help they need.

Why the decline in nationwide bankruptcy filings?

Bankruptcy rates have been falling in Washington and other states during the past four years, but experts say they are not entirely sure what is causing the phenomenon. Personal bankruptcy is certainly in a lull, though the reason might not be what you think; gurus believe that tightened regulation, not more dedicated saving, may actually be preventing people from filing for financial protection. Nationwide bankruptcy filings have dropped by 14 percent since 2009, according to some estimates.

You can get a credit card even after seeking debt relief

If you are facing a significant amount of debt, you may wonder whether you will ever qualify for a credit card in the future. Many experts say that those who have sought debt relief in the past actually may be surprised at the variety of cards they may actually be eligible to use. Although your debt load is important when describing your financial challenges, it is not the end-all when it comes to deciding your credit future.

Ashamed of your credit card debt? You're not alone

Did you know that most Americans are more embarrassed about their credit card debt than their weight? A new poll from the National Foundation for Credit Counseling suggests that many Washington residents are bashful about their credit score. In fact, about one in three people say their amount of credit card debt is more embarrassing than their weight, bank balance or credit score. To be fair, there may be a good reason; nationwide, the average household carries about $15,000 in credit card debt.

Can your old accounts come back to haunt you during debt relief?

Have you ever had an old debt that you simply could not pay -- and you forgot about it or just left it alone? A surprising number of Washington residents find themselves in just this situation, with debt that is years old still floating around on their credit report. In some cases, the debt is so old that creditors do not even attempt to collect since a statute of limitations has passed. However, some people seeking debt relief may find that these unpaid accounts come back to haunt them.

Debt relief may be slow in coming for Washington slide victims

What would your finances look like in the wake of a serious natural disaster? That is the question that scores of Washington residents are now facing, after they suffered major property losses because of the Snohomish County mudslide. Although one community bank is offering debt relief by canceling uninsured debts, larger financial institutions are not being so generous. The Coastal Community Bank has pledged to help patrons whose insurance will not help with their property loss woes. Questions still abound for others who did not use Coastal as their lending institution.

Creditor harassment easier in the digital age

You can run, but you can't hide -- from debt collectors, that is. With the advent of high-tech computer systems, creditors are more likely than ever to have almost instant access to information about Washington borrowers. Used correctly, this information can help establish a positive working relationship between borrower and lender. However, some companies abuse the information and cross into the realm of creditor harassment. Borrowers who are facing financial challenges may not realize that creditors have access to such a vast amount of information. Much of that data is provided by the consumers themselves.

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