Many consumers in Tennessee who have accumulated debt they cannot pay back choose to file bankruptcy to stop creditors from calling and get a financial fresh start. Debtors can only file for a Chapter 7 bankruptcy every eight years. Debtors who have previously filed...
Month: November 2018
Credit card debt on the rise
People who are struggling with debt in Tennessee are not alone. The Household Debt and Credit report indicates that debt tied to credit cards rose by $14 billion during the second quarter of 2018 in the U.S. The average annual percentage rate on credit card debt is...
Thinking about debt: Are we headed for another recession?
For millions of homeowners, the difficulties of the 2007-2010 Great Recession are easy to remember. In many parts of America, inflated home values plummeted, abundant business seemed to dry up dramatically, and unemployment skyrocketed. Home equity lines of credit...
Financial recovery after bankruptcy
Bankruptcy is commonly considered to be a financial disaster that's very hard to recover from. However, new data from financial experts shows that this may not be the case for all debtors in Tennessee. Nearly half of Americans who file for bankruptcy have their credit...
Creating a debt repayment strategy
Household debt for those living in Tennessee and throughout the country increased by $63 billion in the first quarter of 2018. That was the 15th straight quarter in which household debt increased. Accruing debt may make it harder to achieve long-term financial goals,...
Unemployment is very low, but many are still filing bankruptcy
It's a great American financial phenomenon: The economy appears strong and unemployment rates have bottomed out, yet millions of Americans are still struggling to make ends meet and pay all their bills. With high levels of middle-class consumer debt creating a...
When debt settlement could make more sense than bankruptcy
Filing for bankruptcy is often a prudent path to take for Tennessee residents who are struggling to make ends meet, but it is not the only way to escape unmanageable debt. It sometimes makes more sense to avoid the consequences of a bankruptcy by negotiating directly...