When addressing the subject of severe financial challenges and related dislocation suffered by legions of individuals and families across the country, many media articles and reports portray what might reasonably seem to come across as a three-headed monster.
Namely, that is this: the triple scourge of medical debt, credit card-related exactions and student loan indebtedness.
Today’s blog post take a look at the latter challenge.
Although there is certainly widespread appreciation in Arkansas and nationally that legions of consumers are encumbered by educational debts, many Americans might not truly realize the sheer extent of what can clearly be labeled as a significant problem, if not a national crisis.
Consider this, as noted in a recent spotlighting of consumers saddled with high student-loan balances: Reportedly, and on average, “more than 3,000 borrowers default on their federal loans every day.”
Candidly, that is a hard reality to fathom, and something that yields flatly adverse repercussions for the national economy.
And there is no dearth of further statistics and empirical evidence to hammer home the point that high exactions surrounding student loan obligations are driving legions of people close to the abyss — or to the very point — of financial ruin. It is estimated that about 44 million Americans have collectively amassed well more than $1 trillion in debt extended by federal agencies.
The above-cited media underscoring of the problem notes the obvious need for underwater consumers to reach out for help and regain financial traction and a fresh start free of onerous debt-related obligations.
A proven legal team commanding strong experience helping diverse clients work their way through debt challenges can be an ally in that process.
Onerous debt exactions sometimes spell adverse reality in life.
Saddled consumers can feel reasonably empowered knowing that viable strategies can be pursued to proactively respond to stark challenges and to make things better.