Reported by Mara Witworth — Washington, DC
for many families, they are promised that the route to prosperity is to get a good education, which means going to college, receiving a degree and getting a good job. The problem is that for millions of Americans this is unrealistic and even the ones that do go to college find themselves struggling at the end of the month.
Many American families sign up for personal loans thinking they are a good idea, but soon realize after missed payments that this money needs to be paid back in full and with interest.
“Having a family is the most blessed thing that has ever happened to us. I didn’t hesitate to take out loans to support my twins because I figured I would be getting a high paying job to pay it back. I took out over $30,000 in auto and credit loans.
I thought that we were going to be in a comfortable position but now I am in so much debt I stay up crying thinking about how I’m going to give my kids a better future.
College was a great fading memory but the repayments are also just crazy and the lack of support is causing so much tension in our family. We have massive amounts of debt that I struggle to pay back and I am also getting really embarrassing calls about paying back the loans. The worst part is my parents co-signed my loans and now they are worried they will never get to retire. I feel like I ruined their life. I thought that we were going to be in a comfortable position but now I am in so much debt I stay up crying thinking about how I’m going to give my kids a better future.”
Millions of American families have fallen victim to unmanageable auto and personal loans, rental or mortgage repayments and a general lack of knowledge what is out there in terms of support for families like yours. According to The Federal Reserve 3 out of 4 American families currently have serious debt.
The good news is that the American government has recently passed laws that will give millions of American families currently struggling with debt much needed relief. Fill out the details on the links provided throughout this article to qualify for local relief and family support.
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