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Helping good people through bad times

November 2013 Archives

Bankruptcy can be best way out of holiday debt trap

During the upcoming holidays, thousands of Tennessee residents will make countless trips to shopping malls and retail stores to buy gifts. They should be careful, though, to avoid overspending using their credit cards, or they are likely to suffer a financial hangover with the arrival of New Year.

Credit card debts may spike during the holiday season

Thanksgiving and Christmas are approaching quickly. Chattanooga, Tennessee, residents will have to prepare for the upcoming holidays and that means countless shopping trips to stores and malls. Sometimes, consumers forget to keep track of their expenses and use their credit cards for major purchases. Consumers may be surprised later when they accumulate huge credit card debt.

Tennessee native used bankruptcy to settle $1.2 million debt

Hamilton, Tennessee, residents are probably well aware that debts can be both good and bad. On the one hand, debts can be used for self-improvement like obtaining higher education or purchasing large items like a house or car. On the other hand, debtors must live within their means and pay their accounts on time or they may face serious consequences like accumulating insurmountable debt that leads to creditor harassment and financial challenges.

DMX may be forced to convert bankruptcy form

Rapper DMX's bankruptcy has recently been criticized by U.S. Department of Justice officials for inconsistencies and delays. The bankruptcy was originally a Chapter 11 bankruptcy, which the artist filed in 2009 to reorganize his debts. According to the official monitoring the case, DMX failed to fully disclose his assets. One filing stated his monthly income as only $5,000, but this figure was lowered to $1,667 in the next filing.

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

Phone: 423-954-7180
Phone: 423-624-4002
Fax: 423-624-0509
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