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Helping good people through bad times

October 2013 Archives

Credit card debt affects many consumers across the country

When cash is out of reach, people in Tennessee use their credit cards to make purchases, acquire various services, pay rent and medical expenses. Every transaction using a credit card reflects on a person's credit score, which is the basis for the approval of a car loan and mortgage. It is important for consumers to maintain a healthy credit score; however, there are unexpected events like unemployment and serious health conditions that can affect a consumer's ability to pay the accrued debts, which can then result in financial challenges.

How proposed Medical Debt Relief Act could help consumers

Debts from small credit card purchases, mortgages and student loans are different from those accrued because of medical events, which are seldom planned and often arrive with enormous costs that may or may not be covered by health insurance. Even if a person's medical debt is not insurmountable and does not lead to bankruptcy, it can still affect a person's credit score.

Chapter 13 bankruptcy: way to eliminate debt in Chattanooga

Our lives are full of uncertainties. Even an otherwise financially stable individual in Tennessee may face unexpected life changes like unemployment or serious health issues, which, in turn, could drastically impact his or her financial well-being.

Foreclosures down but many may still face an uncertain future

It is true that bankruptcy can provide debt relief, but it may also be able to help those facing the fear of foreclosure. According to a recent report, completed foreclosures have dropped 34 percent over the past year. While this number represents a decrease over the previous year, it still represents 939,000 homes in some stage of the foreclosure process. At the end of the summer, 2.1 million homes were seriously delinquent on mortgage loan payments. While fewer homes are entering the foreclosure process today than are exiting it, there are still homeowners in Tennessee and throughout the country struggling with fears of foreclosure.

Man uses bankruptcy to get out of a foreclosure judgment

For many Chattanooga residents, the idea of being a part of building a 575-unit condo, would likely be a dream. However, for a group of partners, it turned out to be a nightmare that, for at least one, resulted in the need for a personal bankruptcy.

Kenneth C. Rannick, P.C.
4416 Brainerd Road
Chattanooga, TN 37411

Phone: 423-954-7180
Phone: 423-624-4002
Fax: 423-624-0509
Chattanooga Law Office Map