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Posts tagged "interest"

How credit card debt can impact a credit score

Many life events can cause Tennessee residents to fall behind on their credit card payments. The holidays can be a time of overindulgence and high bills for some. Others may run up large bills, while on vacation. Many people find themselves in over their heads with credit card debt when emergencies, such as accidents, cause them to quickly buy new cars or pay off medical bills.

Unsecured debt is not really so unsecured

For many consumers, credit card debt is part of being an American. Despite our sometimes casual attitude about the credit card debt, it can actually be very serious. This is especially true when our credit card bills start to exceed our ability to pay. In fact, some Tennessee credit card holders might find it surprising, but many credit card agreements actually allow lenders to collect outstanding debts through repossession.

Managing credit card debt in a world of scams

When consumers are facing serious financial challenges due to large credit card bills, the options that are available to them may seem limited. For many consumers, the choice may be to either pay off the credit card debt or to use debt relief services. Unfortunately, many people are cautious about considering such services, and for good reason. Tennessee readers struggling with credit card debt and considering a debt relief agency or organization may find the following blog informative.

Bankruptcy can be the better option than defaulting on loans

Everyone faces financial challenges from time to time. Whether its medical debt or credit card bills, many people struggle to make payments and stay on top of their obligations. In some cases things simply get to be too much. When this happens one option is bankruptcy. However, Tennessee consumers looking to further their education may have some questions about how filing for bankruptcy will affect their ability to secure student loans.

Consumer credit card debt shrinks while student loans increase

Many Americans can run into problems with credit cards. Revolving debt with high-interest rates can get anyone into trouble, no matter how financially responsible they may be. Fortunately, it was recently reported that balances on credit cards in the United States have declined for the fourth consecutive month, A fact that our Tennessee readers with credit card debt may not be aware of.

Millennials rely on social media for financial advice

Both the old and young share a commonality in that everyone is subject to financial challenges. From credit card bills and student loans to an upside down mortgage and costly medical bills, getting derailed financially seems to be an American trend. Interestingly, while people of all ages deal with the same economy, how they cope is quite different. Tennessee readers might enjoy the following blog on Millennials, social media and financial education.

Avoiding unscrupulous credit card debt relief promotions

Most Tennessee consumers have at least one credit card in their back pocket. Unfortunately, credit card debt and interest can quickly build up and become a constant source of stress and anxiety. When credit card bills do get out of hand, consumers often find themselves as the targets of unscrupulous debt relief schemes. Tennessee readers may find the following article interesting.

Negative amortization and the plague of revolving debt

No one likes to deal with debt, but sometimes there is no other choice than to confront a problem head-on. Ignoring debt, particularly revolving debt like credit card debt, tends to be a recipe for disaster. This is especially true when the interest on the debt is so high that the balances are increasing by more than the monthly payments. If this scenario is a little too familiar to some Tennessee readers, legal advice on bankruptcy and settlement might be necessary.

Creditor harassment and responding to threats of litigation

From harassing phone calls to threats of litigation, creditor harassment can be terrifying. While the threats are often empty, debtors can be sued for unpaid credit card bills. For many, the first reaction to the threat of litigation is to ignore it. Unfortunately, ignoring legal notification of a lawsuit is far different. Tennessee consumers facing threats of lawsuits over unpaid credit card debt might find the following blog interesting.

Shifting debt can be more costly than people think

Whether a consumer is filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy, there are limits on what types of debt a person can discharge through bankruptcy. While credit card debt and many other forms of debt are easy to get rid of, certain high-value debts like student loans are not. Furthermore, with interest rates on student loans rising, and more students relying on loans to pay for school, this is a huge problem.

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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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