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November 2018 Archives

Understand the difference between secured and unsecured debt

Buying a home can be a massive undertaking for a Chattanooga resident. After saving their money and enduring exhausting searches for just the right property, they may take the plunge and make an offer on the house of their dreams. If their offer is accepted, they will quickly find themselves in the process of securing a loan and taking ownership of their new residence.

What is a Chapter 13 repayment plan?

Personal bankruptcy is an option for individuals who cannot get out of debt and repay their financial obligations without help. There are different forms of bankruptcy that men and women may choose to pursue, and different forms of bankruptcy can meet the needs of different debtors. For Tennessee residents who earn incomes and can dedicate some of their earnings to the repayment of their debts, Chapter 13 bankruptcy may be a suitable option.

Bankruptcy is an issue for an aging American population

It is a common practice of Americans to save their money so that one day they may be able to leave their jobs and enjoy their retirement years before health issues and old age deprives them of their happiness. With the help of investments, pensions, and other retirement tools, many Tennessee residents are able to achieve this dream and still have some money left over to give to their descendants in their estates. However, this is not the case for all older Americans. A disturbing study recently revealed that aging Americans are filing for bankruptcy at a much higher rate than in the past.

Prioritizing credit card debt when money is tight

If Tennessee residents can believe it, the holiday season has now arrived. It seems as though as soon as the last trick-or-treater got home with their bag of candy televisions across the nation were bombarded with advertisements for gift-giving, holiday-themed meals and other winter festivities. As the holidays approach, more and more people may slip into a problem that plagues many throughout the year: credit card debt.

Debt is a problem for Americans of all ages

It is an erroneous assumption that the only people who go into debt are those who are careless with their money or frivolous in their spending. Tennessee residents may believe that young men and women are more likely to go into debt because they do not have the life experiences to teach them to save for the future. A recent national study of debt shows that this belief is a fallacy and that debt is a problem for Americans of all ages and social demographics.

Kenneth C. Rannick, P.C.
4416 Brainerd Road
Chattanooga, TN 37411

Phone: 423-624-4002
Toll Free: 800-257-7594
Fax: 423-624-0509
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