California residents who are struggling with financial obligations may be interested in how their debt burden stacks up with that of other Americans. According to a study from the Urban Institute, consumers who have more types of debt also tend to have higher balances on each of those debts.
South Carolina consumers who are facing financial challenges may have wondered if bankruptcy may be the solution to their situation. While bankruptcy affects an individual's credit score, often for several years, under certain circumstances, it may be the solution that works best to provide financial relief and put individuals on the road to financial security.
A recent federal government case involving Wells Fargo may be of interest to South Carolina residents. In the case, the banking giant agreed to pay $81.6 million to homeowners who went through Chapter 13 bankruptcy cases.
Although a credit card can be helpful for a South Carolina business, there is still the danger of piling up too much debt. At some point, it may become necessary to take action such as paying off the entire balance or refinancing the debt. While paying off the debt may sound like the best option, it means depleting the company's cash reserves.