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Helping good people through bad times
Local:423-954-7180
Local:423-954-7180

February 2017 Archives

Lien stripping can be the bankruptcy process that saves your home

For many Chattanooga residents, their home is one of the most important possessions in their life. It's a place where there family lives and it gives everyone in the family roots. Also, a home is a great asset to have, as property tends to appreciate as time goes on. These are just a few reasons why Chattanooga residents facing bankruptcy may be concerned about losing their home in the process.

Why would I choose Chapter 13 over Chapter 7 bankruptcy?

Many Chattanooga residents struggle to make ends meet. Whether scrambling to get a mortgage payment together or just paying the minimums on credit card balances, it can be tough to be in a tight financial situation. Sometimes those situations can become even tighter, even to the point where it feels like debt has taken hold of everything in a person's life. There are ways to seek debt relief and change the path of financial sorrow.

Interest rate hike is bad news for those with credit card debt

As of this year, Americans are carrying of over $992 billion in credit card debt. It is often a source of great stress, particularly when a person simply cannot afford to meet their monthly payments. For these people, as well as those in Tennessee who are just scraping by, bad news may be in store in the way of rising interest rates.

Medical expenses are a major source of unpaid debt

Medical expenses are often unavoidable. After all, should a person in Chattanooga suffer a medical crisis? These could include visits to the emergency room, necessary surgery or other expensive treatments. And, these bills will simply pile up through no fault of the debtor's own. In fact, according to a recent report by the Consumer Financial Protection Bureau, unpaid medical debt is the number one reason individuals face collection agencies.

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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