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Credit Card Debt Archives

Tennessee locales look to rein in payday loans

Most residents are likely aware that credit card debt is a huge problem in the state and nationwide. But, what if someone came to them and told them that there was a card that would charge 460 percent interest? One would think that people would avoid that if it all possible. However, according to consumer groups, that is exactly what it is like when individuals use payday loan businesses.

Don't let fear of losing assets keep you from debt relief

We spend years gathering things-the car given by parents on graduation day, the china dinnerware you got on your wedding and the vintage ring your grandmother gave you. Many Tennessee residents may lug their prized possessions around from city to city as they move around for various reasons. This is why the idea of filing for bankruptcy may be daunting-as mentioned in last week's post, many are under the impression all assets must be given up in a bankruptcy filing. But this is not the case.

Exceptions to creditors' levy of bank accounts in Tennessee

Being in debt can be a very stressful situation. Having to worry about making payments that one knows cannot be made, whether due to unemployment, large medical expenditures, or other sources will wear on any Tennessee resident. Eventually, such debtors may also start to consider that their creditors may attempt to come after any property they may have. This may include real estate or personal property, and especially any 'cash' the debtor holds, even if it is in the form of electrons in a bank account.

Discharging credit card and medical debt in Tennessee

Life moves pretty fast, and sometimes unexpected things happen along the way. An unexpected injury or a lengthy illness can mean large medical bills, especially in this time of uncertainty with regard to health insurance. A period of unemployment due to a layoff or other circumstances beyond one's control can lead to having to live on credit for a while. Even those who do have jobs may not make enough in our current economy to be totally without credit card debt. Required home or vehicle repairs may hit, causing a Tennessee resident to rack up debts that become difficult or impossible to pay.

Stay away from these bad financial habits

Some Tennesseans get in financial trouble because of bad luck such as a major medical malady that can churn out huge bill after huge bill. But others wreck their finances through smaller, oft-repeating behavior that adds up over time. What are some of the most common financial mistakes?

Ever wonder how credit-repair companies make money?

Life is seldom simple. We make choices. Sometimes they lead to good results, other times not. Whether that means getting buried under credit card debt or taxed by a business idea turned sour, the financial repercussions of a decision gone awry can be taxing, even ruinous. In such situations, there's no shortage of companies clamoring that they can help, including so-called credit-repair companies. What are these companies and how do they make money?

Is credit counseling required before filing for bankruptcy?

When Tennesseans think about bankruptcy they often focus on the end point: the discharge of their debt. Bankruptcy can result from any number of debt types including medical debt, credit card debt or some other type of debt. But bankruptcy is not just its end point. There is a beginning, a middle and an end. Along the way, Tennesseans will need to complete a variety of steps. One of those steps is credit counseling.

Credit-card-debt statute of limitation

Many Tennesseans have credit card debt. Some pay that debt off on time and in full. Others get behind. Then the ball is in the creditor's court. But only for so long. Creditors have the right to try and collect debts, but only for a period of time. After that, the statute of limitations will step in, barring the creditor from filing a lawsuit to collect the debt.

Five myths about bankruptcy

Credit card debt can get out of control. An unpaid balance gathers interest, and can quickly grow into something outrageous. Unexpected changes, such as the loss of a job, can set a debtor back, and turn the unpaid balance into something that is almost impossible to pay off. When that happens, it is important for Tennessee residents to have an accurate picture of their options. One option is to file for bankruptcy. And yet, a variety of myths continue to swirl around filing for bankruptcy.

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Mark T. Young & Associates
2895 Northpoint Blvd.
Hixson, TN 37343

Toll Free: 888-376-0282
Phone: 423-933-1606
Fax: 423-877-0363
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