Right now, do you have $1,000 to deal with an emergency that came up suddenly? How about just $400? If the answer is no, you are like almost half of America, according to a recent Federal Reserve Board survey. In a well-known and oft-shared 2016 article in The...
Month: October 2018
The debt gap between men and women
The wage gap between men and women is a continuing problem in Tennessee and other states. However, there is also a statistical disparity between men and women when it comes to debt. Data from Comet Financial shows that women carry more debt on average than men for...
Filing for bankruptcy when “the economy is good”
Plenty of myths surround our personal struggles with debt and the state of our national economy. One largely-unspoken myth is that everyone is "doing well" financially -- or at least doing better -- when the economy is said to be in a good place. By certain measures,...
What to know about Chapter 7 bankruptcy
Individuals and business owners who are looking for a way to handle their debt may wish to file for bankruptcy. Chapter 7 is one of the most common forms of bankruptcy, and it involves liquidating assets and using the funds to pay creditors. Some assets may be exempt...
Avoiding credit card debt
Many debtors in Tennessee who are struggling to pay their bills cut their credit cards to avoid overspending. While this may seem like a smart way to avoid new debts, credit cards can be an asset for those trying to rebuild credit. The key to not getting in trouble...
Creditor harassment: What bill collectors can and can’t do
If you are past due on your bills, you may already know the frustration and exhaustion that can come with collector harassment. Maybe the same person keeps calling you over and over again. Maybe they are rude and disrespectful to you and your family. (Pro tip: You...
Credit card debt settlements aren’t always ideal
It may be possible for Tennessee consumers to settle credit card debt for less than what they owe. However, it is important to consider the potential consequences of doing so. For example, a debt settlement may only be available to those who can show evidence of a...