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Do Connecticut Youth May Have Higher Credit Card Debt?

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.

Chapter 13 Filings Increase In Connecticut

Some encouraging numbers have been seen on the Connecticut bankruptcy front, leading experts to suggest that consumers who file may have more optimism when it comes to paying down debts and turning their financial situations around. Although Chapter 7 bankruptcies are more common in the state than Chapter 13, the overall numbers for Chapter 7 have declined. Recent reports show Chapter 13 bankruptcies have increased by almost 1000 from 2011 to 2012.

Connecticut Power Company Files For Chapter 7 Bankruptcy

A Connecticut town is the recipient of a sizeable check after a bankruptcy court determined its claim against a power plant had priority over other creditors. The plant filed for Chapter 7 bankruptcy slightly over a year ago and had to lay off its entire workforce. Before its bankruptcy, the power plant contributed the largest amount of taxes to the town, totaling over $1 million annually.

Ban Could Reduce Connecticut Student's Credit Card Debt

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.

Law Offices of
Mark M. Kratter, LLC

71 East Avenue, Suite K
Norwalk, CT 06851
Phone: 203-678-8135
Fax: 203-853-2317
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Contact our office today to discuss your criminal charges with a highly skilled Connecticut criminal defense lawyer. We also represent clients in family law and bankruptcy law. We are available during regular business hours and by appointment in the evenings. You can contact us online or call 203-678-8135 to schedule a consultation.

The Law Offices of Mark M. Kratter, LLC, in Norwalk, Connecticut, serves clients throughout Fairfield County, including the communities of Norwalk, Stamford, Greenwich, Westport, Redding, Wilton, Bridgeport, Ridgefield, Weston, Fairfield, Stratford, Monroe, Milford, Newtown, Bethel, Danbury, Darien, Trumbull, New Canaan, Easton and Bridgeport.

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