Those who live in Tennessee have the 17th highest average household credit card balances in the United States. Households in California owe an average of $10,175 in credit card debt, which is the highest in the United States. During the second quarter of 2019, the...
Chapter 13
Reasons for decline in bankruptcies unclear
A report written by John Roberts, the Chief Justice of the Supreme Court, shows that bankruptcy rates are at their lowest in 10 years. The reasons for the lull in filings may have more to do with people being broke than secure, however. People in Tennessee and across...
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...
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...
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...
How to respond to a debt collection lawsuit
In Tennessee and across the United States, people who are experiencing severe financial challenges may need to contact an attorney regarding debt relief. Delinquency in mortgage payments and credit cards may lead to a constant bombardment from creditors attempting to...
Millennials are buried in credit card debt
Young people in Tennessee need to be careful with credit cards. When they take on credit card debt, it can be difficult for them to get out of debt because of the high rates of interest that card issuers charge. According to a report by CNBC, millennials have long...
Cancer patients may look to bankruptcy for relief
When a Tennessee resident is diagnosed with cancer, it's important to concentrate on overcoming the disease. However, a patient may also find that financial worries continue to haunt them throughout the treatment process. Indeed, there are good reasons for these...
Bill introduced dealing with student debt and bankruptcy
Some people in Tennessee who are struggling with student loan debt may find it easier to discharge those debts in bankruptcy if a federal bill that has been introduced is successful. Discharging student loans has gradually become more difficult since the 1970s, and...