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

December 2018 Archives

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.  

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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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