Lefkovitz & Lefkovitz
Nashville Office 615-686-2279 Cookeville Office 931-400-2218
Serving all of Middle Tennessee's Bankruptcy Needs

December 2018 Archives

Medical bill and bankruptcy

Many people in Tennessee find themselves overwhelmed by debt suddenly after emergency medical care without health insurance. One woman in California drove herself to the emergency room after a car accident to avoid the costs of an ambulance ride but still was billed $20,000 for her trip to the ER. Now she must choose between paying the debt and getting care for her sprained shoulder.

Starting fresh: Is bankruptcy a good New Year's resolution?

When the holidays come to an end, there can be a lot of emotion. You may be sad that the fun is over and bummed out that you have to get back to work. Perhaps you feel relieved to be done seeing certain relatives. Or you might be excited about plans for the new year, which could include losing the weight you just put on. 

The reasons why credit card debt is so common

Credit cards can be powerful financial tools when individuals in Tennessee use them properly. However, they can be debt traps for those who use them too frequently. One of the allures of a credit card is that it allows a person to spend more than he or she makes in a given pay period. Ideally, those who use credit cards won't charge more than they receive from an employer or other source.

Credit card debt levels increase in 2018

According to a report from NerdWallet, the average American household carries $7,000 in revolving debt. That is up from $6,081 in 2017, and this figure is important because it is a more accurate indicator of a person's financial health. Tennessee residents and others are experiencing wage growth, but higher prices are playing a role in increased credit card spending. Medical costs, student loan payments and food prices are causing expenses to outpace incomes for many.

Consumer debt and cost of money on the rise

Analysts from LendingTree examined the rates of spending in November and predicted that the credit card balances of Americans would increase by at least 5 percent before the end of 2018. When the balances of credit cards rise, so does the cost of the associated debt service. People in Tennessee and across the U.S. spent more than $100 billion from January through November 2018 on credit card fees and interest, and annual percentage rates are higher than ever, averaging from 16 to 17 percent.

Every bankruptcy is different. How would a filing benefit YOU?

Nobody enjoys being in debt or struggling to pay their bills. But it happens to almost all of us at some point in our lives. In many cases involving intractable debt brought on by an income loss, a divorce, an illness or another serious life event, effective legal relief is available to us through the courts. Bankruptcy is constitutional, and it's legitimate, no matter what the naysayers think.  

We Look At Your Case From Every Angle To Find The Solution That Is Right For You

Bankruptcy help for everyone, from the most simple to the most complex cases.

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Contact our Nashville office at 615-686-2279 or our Cookeville office at 931-400-2218. You can also reach us via email to set up a time to talk to us about your debts.

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Nashville Office
618 Church Street, Suite 410
Nashville, TN 37219

Phone: 615-686-2279
Fax: 615-255-4516
Nashville Law Office Map

Cookeville Office
312 East Broad Street, Suite A
Cookeville, TN 38501

Phone: 931-400-2218
Fax: 931-526-6244
Cookeville Law Office Map

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