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Local:423-954-7180
Local:423-954-7180

Credit Card Debt Archives

The right approach to filing for bankruptcy and rebuilding credit

Financial challenges are often cited as the biggest reasons why Tennessee residents decide to consider filing for bankruptcy. A concern that many have, however, is how the process will negatively affect their credit and what they can do after the bankruptcy is completed to rebuild their credit. Fortunately, there are ways to get back on stronger financial ground through bankruptcy and to rebuild credit. Having legal assistance is essential to this process.

Carrying credit card debt is going to get more expensive

It would have been pretty easy for our readers in Tennessee to overlook a recent news report that may have quite a significant impact on their finances. According to a recent report, the Federal Reserve has decided to adjust their interest rate upwards - a quarter percent of a hike.

Tips for improving your credit score

Tennessee residents who are facing debt problems will, in general, probably do their best to find a solution. Many will set up a household budget and stick to it, devoting a significant portion of their monthly income to paying down debt. Repaying the credit card debt in full is obviously the main goal, but there are other ways to improve a credit score.

Overview of benefits from the "CARD act"

With a new presidential administration settling into office, there has been a lot of news coverage about potential new laws that could be enacted. However, our readers should know that, when it comes to credit card debt, there is already a law "on the books" that protects them: the CARD act.

If you're defaulting on credit cards, consider bankruptcy

As the national economy improves, more Americans are taking the risk of making purchases with credit cards. Although economists note the increase in consumer confidence as a positive factor for the economy, the reality is that rising credit card debt is bound to start causing problems if it continues unchecked. According to a recent report, one indicator of a potential problem is the rate at which consumers are defaulting on credit card debt.

Using credit cards properly to avoid too much debt

Millions of Americans have credit cards that they probably use on a daily basis. For many people, there are various reasons to use credit cards instead of cash to make purchases, such as credit card rewards and building a credit score. But, there are also reasons to avoid using credit cards when possible.

There are many ways to address credit card debt

Many recent reports show that Americans are getting more bullish about their prospects in the national economy. The result? Increased consumer confidence - and spending. Unfortunately, this may also result in many Tennessee residents accumulating a bit too much credit card debt. For those who find themselves in this situation, it is important to note some tips on how to address credit card debt.

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.

Ways to address holiday credit card debt

Americans in Tennessee and nationwide are no strangers to credit card debt. Prior to the 2016 holiday season, 38 percent of households in the United States had credit card debt, averaging about $16,000. And, due to various circumstances, these households planned to put another $1,073 on their credit cards to pay for holiday expenses. While, at the time, it may seem that the extra holiday spending would result in manageable debt, unforeseen circumstances could change that projection. As a result, debtors may find it hard to cope with this holiday debt. So, what can be done to address this problem?

Is it possible to negotiate lower credit card debt?

Holiday spending may be in full swing, but even responsible credit card holders may find their monthly payments ballooning this time of year. Perhaps, they had a medical emergency or their car broke down. Or, perhaps there was a job loss in the family, and a credit card had to be used to pay for the basic necessities. The holiday season can be a difficult time of year to find oneself in dire financial straits.

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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