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Helping good people through bad times

June 2015 Archives

What to look for Tennessee debt relief

When people anywhere in the country, including Tennessee, get into financial trouble and are not sure how they will be able to pay their bills and manage their money, they often begin to consider the use of a counseling service. Many free or low-cost services are available through military family help centers, religious organizations, credit unions and local not-for-profit agencies. They can provide much needed assistance, largely by showing people the best way to manage a budget, maximizing income and creating a plan to repay off debts as quickly as possible.

Nationwide credit card debt to reach $886.8 billion in 2015

Credit card debt is a financial stress that many Tennesseans have experienced. While some of them are lucky because their outstanding amounts are still within their reach. Others are not so lucky, and as a result, they have to face many difficulties to stay afloat financially. However, in 2015, the use of credit cards is almost unavoidable, and nationwide outstanding debt has been steadily rising.

Why filing for bankruptcy may be a worthy option for seniors

Many older, retired residents of Tennessee and Georgia often bear the brunt of financial burdens due to medical expenses or helping family members in need. According to experts, bankruptcy can release the burden of certain debts and still protect retirement assets. However, research has shown that most retirees hesitate to file for bankruptcy when it is needed as quickly as possible, perhaps due to the stigma of failure that some associate with bankruptcy.

How a personal bankruptcy filing affects FHA mortgage eligibility

Tennessee residents who consider filing for personal bankruptcy wonder how it will affect their lives afterward. Some wonder, for instance, how a filing might affect a debtor's eligibility for loans and mortgages. Although a bankruptcy filing does remain on a person's financial records for 10 years, it actually has relatively little effect on a person's eligibility for loans and mortgages - that is, as long as the person rebuilds and maintains his or her credit after the bankruptcy discharge.

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