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...
Month: November 2019
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...
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 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...
Bankruptcy may help debtors avoid tax bills
Until 2018, homeowners in Tennessee could cancel up to $2 million in mortgage debt without incurring a tax bill. This was true for those who lost a primary residence through a short sale or foreclosure. However, this perk expired at the end of 2017 and is unlikely to...
Is it even possible to discharge your student loans?
Student loan debt is a burdensome problem for which there is no easy solution. Decades of teaching students that the only real source of upward mobility came from a college diploma has resulted in increased demand for college admissions and a drastic rise in the...