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Helping good people through bad times

Debt Relief Archives

Understand foreclosure before it becomes a problem

Paying off one's mortgage is often one of the biggest monthly expenses that a Chattanooga resident confronts. When compared to other fixed costs, such as those associated with utilities, car payments and food, a mortgage can dwarf other payments in outgoing expense. However, when a consumer makes complete and timely payments toward their mortgage they get closer and closer to owning their home outright.

When can individuals file for Chapter 11 bankruptcy?

Often when Chattanooga residents consider their bankruptcy options they elect to either pursue Chapter 7 bankruptcy or Chapter 13 bankruptcy. As readers of this debt relief and bankruptcy blog know, Chapter 7 bankruptcy allows a consumer to eliminate their debts through the liquidation of their assets; Chapter 13 bankruptcy allows consumers to reorganize their income and debts to create debt repayment plans.

Medical debt is a crippling financial burden

In the last several years, the Kaiser Family Foundation, in conjunction with the New York Times, conducted a survey of Americans regarding the prevalence and impact of medical debt on their lives. The results are both devastating and shocking, but Tennessee families that have faced unexpected or extremely expensive medical situations may relate to the statistics presented in the study's report.

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.

Should I consider debt relief instead of bankruptcy?

When a Tennessean is confronted with overwhelming debt, it is not only a financial problem, but a personal problem as well. People can experience stress, find themselves unable to sleep, have health concerns and emotional problems because of financial challenges. Many are fearful of bankruptcy due to the stigma that many associate it with. Some will take the step of considering debt negotiation to eliminate debt. A debt negotiation program (DNP) is different from other alternatives and might be alluring to those who associate bankruptcy with shunning responsibility. Understanding the assertions that these companies make and if it is realistic is vital to deciding on the next step.

Bankruptcy is often preferable to debt settlement

When confronted with financial challenges and limited strategies to get out, many Tennessee debtors will boil their choices down to debt settlement or bankruptcy. Debt settlement companies make a great show of their skills and assert that it is better than bankruptcy. Unfortunately, desperate people may believe those assertions. However, even though the increased regulation and oversight has improved the industry, it might not be the best alternative for most people.

What are dangers of using a debt relief company?

Tennessee residents who are dealing with financial challenges will frequently consider numerous alternatives to eliminate debt. In a desperate state, it is easy to fall for impressive sales pitches and testimonials as to the benefit of a debt relief company and think it is preferable to bankruptcy. However, trying to use debt settlement tactics has its risks. Before contacting and entering into an agreement with one of these companies, it is important to understand the details and dangers.

Debt relief and protection from collectors' unfair practices

While seeking debt relief through legal means is meant to help a debtor get beyond financial challenges and move forward with a fresh start, Tennessee residents must also be aware of how legal protection can stop debt collectors from using various tactics that violate the Fair Debt Collection Practices Act when it comes to certain behaviors. Unfair practices might be against the law, but that does not mean debt collectors will stop using them to try to get all or some of the debt repaid.

Although bankruptcies are down, medical debt still a problem

Debts can accrue for a multitude of reasons for people in Tennessee and throughout the nation. One that frequently arises and is often unavoidable is medical debt. It is not just that people cannot control when they or a loved one will need medical treatment that is extremely costly, but the bills are massively expensive. Medical debts are one of the main reasons that people consider filing for bankruptcy to get debt relief and a fresh start.

Bankruptcy is a time-tested way for successful debt relief

There are many ways Tennesseans can find themselves facing financial challenges. Job loss, medical debt, personal issues, financial mistakes - all are reasonable explanations for having problems with finances. Often, there is a perception that there is no way out and a fresh start is unavailable. The word "bankruptcy" makes people nervous and guilty, thinking that they are shirking their responsibilities if they even consider it. The truth is that filing for bankruptcy is a perfectly legal and reasonable way to get back on stronger financial ground and move forward with one's life.

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