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June 2012 Archives

Consumer debt declines, but families continue to struggle

Grasping the concept of the total level of American consumer debt can be hard for Tennessee residents to fathom. The numbers are so large that drops in the national consumer debt may not seem to be overly significant or relevant. One reason this may be difficult for many to understand is because the national picture tells us very little about any one individual and their financial status.

36 percent of young adults are saddled with medical debt

Among the many sources of debt that plague Tennesseans and American consumers of all ages, medical debt is often cited as one of the most ruthless, and often the most notorious. "Notorious" because, unlike some other forms of debt, such as student loans or credit card debt, medical debt is often unexpected or is often associated with an unfortunate event.

School-sponsored credit cards worry consumer advocates

Tennessee college students and recent graduates understand the financial burden that accompanies receiving a good education. If ever-increasing tuition rates were not enough to raise concerns among college students, the U.S. Public Interest Research Group Higher Education Fund recently released a report alleging that some colleges have been making secret deals with banks that simply add to the financial challenges faced by students and recent graduates.

Medical expenses comprise large portion of credit card debt

Growing levels of medical debt have been on the radar of economic observers for quite some time. Many individuals in the Chattanooga area face unexpected ailments that need to be treated. These individuals find themselves saddled with medical bills and related charges that, which a large number of individuals are unable to pay. Paying medical expenses with a credit card may be an individual's only option.

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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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