The Credit Card Confidence Index from CompareCards.com has provided some new insight into how Tennessee residents and others are managing their credit card balances. According to the survey, only 30% of respondents said that they were able to pay their credit card...
Month: August 2019
Seniors and debt: bankruptcy during retirement
In Tennessee and across the United States, many senior citizens do not retire in style. Instead, retired seniors often live on low Social Security incomes or Social Security disability payments. Some seniors cannot afford to buy groceries unless they have food stamps....
How to incur new debt during a Chapter 13 case
Tennessee residents and others who have filed for Chapter 13 bankruptcy may be allowed to incur new debt while their cases are ongoing. However, debtors must get a court's permission to do so. Failure to do so could result in a case being thrown out and the vehicle...
How leases are treated in Chapter 11 cases
If a person leases land in Tennessee or anywhere else, it may be possible to retain an unexpired lease after filing for Chapter 11 bankruptcy. However, there must be an explicit acceptance of that lease, and the bankruptcy court must then approve of the decision to...
Young people have high credit card debt
Student loan debt among the Millenial generation gets a lot of attention for a good reason, but what gets less attention is the high amount of credit card debt accumulated by this same group. According to a survey conducted by CompareCards, only 13 percent of younger...
Women often struggle with credit card debt
A new study has found that women are less confident than men that they can pay off their credit card debt. Specifically, it found that 26% of female respondents expressed doubt that they could pay their balances in full this month. Only 14% of male respondents felt...
Tennessee leads national debate on surprise medical bills
Across America, when people declare bankruptcy, medical bills are the reason they cite most often. It was true well before the Affordable Care Act. But in recent months, the role of surprise, out-of-network medical bills has rocketed to the top of the legislative...
When filing for bankruptcy is a good decision
During the financial crisis, there were 1.6 million bankruptcy filings per year. While that number has dropped by roughly 50% in recent years, it doesn't necessarily mean that Tennessee residents are doing better financially. In some cases, individuals don't file for...
Chapter 13 bankruptcy offers additional choices for debtors
Many people in Tennessee struggle to make ends meet, even if they have significant assets or properties that they want to keep or make a substantial salary. Credit card debt, medical bills and other expenses can put people's financial health and credit rating at...