Americans owe a total of $1.59 trillion in student loan debt. However, many Tennessee residents and others who carry student loan balances won't be able to discharge them in bankruptcy. For some, it is because they don't qualify to file for Chapter 7 bankruptcy....
Year: 2019
What debtors can expect from debt collectors
It isn't uncommon for individuals in Tennessee and other states to carry credit card or other types of debt. If a debtor is unable to stay current on a balance, it may be sent to a collections company, and debt collection companies may use a variety of tactics in an...
Use credit cards as a last resort for medical debt
Consumers in Tennessee may have more money to use for savings and purchases as across the United States, the median household income has risen by 30% in 10 years. While this is good news, Americans are dealing with medical costs that are growing faster than income....
What to do about credit card debt
You're buried in credit card debt, looking for a way out but never seem to make any progress. As frustrating as it may be, there are steps you can take to slowly dig yourself out of debt, thus resulting in improved financial circumstances in the future. While no two...
Credit card charge-offs on the rise
A number of credit card companies are reporting high rates of charge-offs. A charge-off is a loan that the creditor has determined it will not collect. Overall, the charge-off rate rose to its highest point since 2012's second quarter and was reported at 3.82% for the...
Medical debt pushes many toward bankruptcy
Over 137 million Americans in Tennessee and nationwide are struggling with the crushing weight of medical debt. Despite widespread concern about the broken nature of the nation's health care system and the passage of the Affordable Care Act, people continue to...
Avoiding extra debt on Black Friday
Every year, people in Tennessee flock to the stores on Black Friday and head to their favorite websites on Cyber Monday in the hopes of saving money on holiday gifts and other products. While the deals offered on Black Friday can be appealing, they can contribute to...
How does the repayment period in Chapter 13 bankruptcy work?
Whether your debt has gotten out of control because of a medical condition or because you close the gap between what you earn and your cost-of-living expenses each month with credit cards, excess debt can make your life very difficult. You may only be able to make the...
How to effectively deal with business debt
Owning a business is a big responsibility, especially if you have employees who rely on you for a paycheck. While it's natural to incur debt during the course of business ownership, how you manage it will dictate your financial health. Your goal is to avoid a...
Medical debt causing older Americans to go bankrupt
Roughly 12% of those who file for bankruptcy in Tennessee and other states are 65 and older. The rate was only 2% in 1991, and there are several reasons why older Americans are doing so more frequently. Generally speaking, older people are less likely to work, which...