With trillions of dollars in debts, maxed-out credit cards and missed bills, the state of Washington residents' financial outlook is not exactly optimistic. Critics tend to disparage debtors, claiming that people simply need to learn to live within their means. While it might be nice to envision a simple reason behind ballooning debt, such a vision does not make it easier for those who are considering choosing bankruptcy because of suffering from student loans, hefty mortgages and medical bills. Perhaps not surprising to some, student loans are now the leader when it comes to non-mortgage debt ..read more

It is hard to imagine a world where poor individuals can be sued for not having enough money. Sadly, that is the reality that some people must contend with today. Patients in Washington likely already understand the heavy burden that medical bills create, and for some, that burden is only exacerbated by an already stretched wallet. When creditors turn toward the courts to get more money, many people are desperate to find relief from medical debt collectors. Washington is among one of several states that have particularly high rates of lawsuits filed in an attempt to recover unpaid medical bill ..read more

As Washington readers know, some financial struggles develop over time, while other spring up seemingly overnight. No matter the nature of your financial difficulties, when savings have been depleted and bills amount to more than you make in a month, you may feel that you are out of viable options. Fortunately, there are legal options available to you, including the option of Chapter 13 bankruptcy. There are many ways to determine whether Chapter 13 bankruptcy is the right decision for you. If you have applied for debt relief via Chapter 7, but you have been denied, you might consider the ..read more

Some of the biggest debts currently carried by people in Washington are also some of the most difficult to get rid of. The intense burden created by student loans is familiar to the vast majority of students who attend college, regardless of whether they actually graduated. Now, as one father might achieve debt relief for his $200,000 in student loans, hope could be on the horizon for many. National student loan debt currently stands at $1.3 trillion with no indication of slowing down. With the rising cost of attending college, judges and policy makers alike are beginning to question the insti ..read more

The rising cost of health care is a burden on the minds of most people in Washington, as even the healthiest patients struggle with insurance costs and co-payments. The situation can be even more dire for individuals who cannot afford to purchase their own health insurance but who are also not eligible for any type of Medicaid. These people often face dehumanizing choices, such as whether to seek necessary treatment and take on insurmountable medical debt or forego life-saving care. An out-of-state mother of three understands that heart-wrenching decision all too well. Already tens of thousand ..read more

Overwhelming amounts of consumer debt can affect virtually anyone in Washington. No matter a person's income or one's best efforts to stay on top of monthly payments, consumer debt can become an insurmountable beast. Actress Tisha Campbell-Martin is perhaps an appropriate example of how debt can affect anyone at any time. She recently filed for bankruptcy, citing millions of dollars in debt. Once an actress on "My Wife and Kids" and "Martin," Campbell-Martin now stars on "The Dr. Ken Show." She and her husband also own two other ventures, including Xen Restaurant and XE Visions. However, accor ..read more

Politicians often make a point of discussing military members and veterans and the great value that they provide, but does that talk actually translate to reality? According to data from the Consumer Financial Protection Bureau (CFPB), it does not. Washington state military families struggling with credit card debt and other past due pills are increasingly filing complaints about aggressive creditors. Veterans and active duty service men and women file complaints regarding debt collection at twice the rate of the general population. In both 2014 and 2015, the CFPB noted that debt collection wa ..read more

Historically, discharging student loans in bankruptcy has been a difficult task, albeit not impossible. However, a recent ruling could have positive implications for Washington college graduates carrying enormous amounts of debt. In the future, bankruptcy could be a more viable option than ever for handling student loans. The ruling came after a law school graduate filed for bankruptcy in Nov. 2014. She accumulated $300,000 in student loans over the course of her education but, upon graduation, was unable to pass the bar exam, which is necessary for practicing law. She later found a job with a ..read more

The number of people in America living with crushing medical debt is staggering, with recent estimates putting 42 percent of individuals spending most or all of their personal savings on medical expenses. Experts point out that people in Washington tend to have financing options for many other areas in their lives, but that is not the case for medical debt. Bills related to medical care tend to create a much larger burden on consumers. A lack of health insurance tends to get blamed for tremendous amounts of medical debt, but that sentiment is not necessarily accurate. A survey in another state ..read more

The image of financially inept young adults is a popular one in most forms of the media. Many people in Washington cannot be blamed for holding on to this idea of big-spending young adults who ultimately land themselves in bankruptcy due to nothing other than irresponsible actions. However, real life paints a much different picture, and many Millennials actually have a firm grasp on their finances, giving further credence to what most people already know -- bankruptcy is usually the result of extenuating life circumstances that are often beyond people's control. Ipsos -- a research firm -- joi ..read more