Considering the lack of growth in the job market, hearing that late payments on credit cards have decreased in the first quarter is welcoming news. While this may indicate that this recession may be finally turning around, late payments on loans are not. The following article in the business section of Cleveland.com outlines the breakdown for late payments for most types of loans and lines of credit.
As this article points out, a well laid plan to attack debt has helped many consumers in paying down their credit card debts which will improve their financial standing. While this has helped many with credit card debt, it is apparent that others continue to struggle to meet their financial obligations in several areas. If you have an RV/Motorhome or boat/marine repossession, or are struggling to keep up with the payments, contact a qualified debt settlement attorney. A debt settlement attorney can likely negotiate on your behalf for a large principal reduction on any deficiency balance owed from your boat/marine or RV/motorhome.
Author: Kevin Fallon McCarthy