Iowa Residents Still Have Debt Trouble
Iowans are having trouble with finances, including credit card debt, bankruptcies and foreclosures.
In order to file for bankruptcy, a person needs to contact a credit counselor, as this was added to bankruptcy laws in 2005, according to The Globe Gazette.
People of all ages are dealing with debt issues, despite the recovering economy. Many Iowans are unemployed, or are simply behind on payments, which has added to the debt quagmire that Americans are dealing with.
"Many times we find people with a lot of medical debt," Kathye Gaines, a manager for Consumer Credit Counseling Service of Northeastern Iowa, told the news source. "A lot of people use credit cards to pay for medical bills if they don't have health insurance or they're underinsured."
There is a variety of credit counseling that is available to those who are in need of debt settlement, including mortgage-related counseling that is specially approved by HUD.
Consumer Credit Counseling said their median age of those who receive credit counseling is 44, according to the news source.
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