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Helping good people through bad times

December 2017 Archives

Despite decline, many still file for personal bankruptcy

When financial challenges become overwhelming and a Chattanooga resident has few options for improving their money problems on their own, they may turn to personal bankruptcy as a means of getting out from under burdensome debt. Whether through Chapter 7 bankruptcy or Chapter 13 bankruptcy they may be able to establish strong financial footing, and based on data provided by the United States Courts, they would not be alone.

What rights does the Fair Debt Collection Practices Act afford?

Accumulating seemingly insurmountable debt can be a terrifying event for a Chattanooga resident. Not only does the individual feel crushed by the massive weight of financial responsibility that has collected on their shoulders, but they may also experience one of the most frustrating aspects of debt that Americans can experience: harassment from debt collectors and collection agencies.

Not all debts are dischargeable in Chapter 13 bankruptcy

Most Tennessee residents understand bankruptcy to be a process that wipes out all of a person's debts. There are, of course, sacrifices that individuals must make for financial freedom, such as the liquidation of their assets under Chapter 7 bankruptcy or the assignment of their disposable income to creditors in Chapter 13 bankruptcy. To some, these may seem to be minor inconveniences necessary to start over on a clean financial slate. However, it is important that readers understand that not all of their debts may be discharged when they complete their Chapter 13 filing.

Holiday season can be the start of credit card debt for consumers

Now that Thanksgiving has ended Tennessee consumers may be gearing up for the December holiday season. A plethora of gift-giving days are on the horizon and with individuals generally feeling goodwill and generosity in their hearts the urge to buy may be quite strong. If individuals do not plan their shopping and create budgets that limit how and where they will spend their money, they may quickly find themselves in dangerous financial waters.

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