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Helping good people through bad times

January 2014 Archives

Relief possible for Tennessee residents with debts from 2013

According to the Federal Reserve Bank, 2013's third quarter saw a 1.1-percent rise in consumer debt to $11.28 trillion. Basically, Americans overspent from July through September. Tennessee residents who were among these big spenders can follow this simple plan to climb out of debt.

Tennessee tops bankruptcy filings for second consecutive year

For the second year in a row, Tennessee tops the national list for bankruptcy filings per capita per state. This does not mean that the state is a forlorn hotbed of insolvency. It may actually means the opposite: Tennesseans know what it takes to manage and repay debts in a responsible manner.

Bankruptcy basics for Tennessee residents

The struggling economy and unexpected life changes can bring troubles to even the most financially stable Tennessee resident. This can lead to seemingly insurmountable debts at times. However, residents in this kind of predicament do have a viable option, bankruptcy.

Singer files for Chapter 7 bankruptcy in search of debt relief

Debtors anywhere, including Tennessee, can learn a thing or two from the recent troubles of country singer Eddie Montgomery. Because his reported debts of $13.4 million far outweigh his assets of $1.9 million, the singer recently filed for Chapter 7 bankruptcy. His debts reportedly stemmed from a bankrupt restaurant, Montgomery's Steakhouse in Harrodsburg, Kentucky, which is currently for sale. Proceeds from the sale will be used to pay off the debts from different creditors.

Size of credit card debt often alarms consumers in January

Like many Americans, Tennesseans rely on credit cards' convenience to pay for a wide variety of products and services. They may also use those cards more freely during the holidays, often without closely tracking how much they are spending. The problem has been made worse in recent years by the increase in online shopping, which usually requires a credit card.

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