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Debt Relief Archives

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.

As debt level climbs in America, many will seek options

Tennessee residents who have high levels of debt are not alone. According to a recent report, the overall debt balance of households throughout the country has risen to a level not seen since 2008 - prior to the financial crisis that resulted in the so-called "Great Recession."

Making the right move to find debt relief

Tennessee residents accumulate debt in a variety of ways. These days, student loan debts seem to be the primary problems. But, in other cases, many people have high levels of credit card debt or medical debt. Whatever the source of your debt problems, a variety of options - or a combination of options - may be available.

Exploring the benefits of a bankruptcy filing

The word "bankruptcy" has a negative connotation for most people. After all, when we see news stories about celebrities or former professional athletes filing for bankruptcy many people probably think of how that individual must have made serious financial mistakes to get into such a position. But, the fact is that many Americans face significant financial setbacks all the time, and that can include seemingly insurmountable debt.

TN newcomer Pure Foods filing for bankruptcy

Debt and an inability to pay debts, or manage finances, can happen to even the largest businesses. One newcomer to Tennessee, Pure Foods, recently opened a new factory and Tennessee location in hopes of launching their corporate headquarters in the U.S. as opposed to Canada. The health food manufacturer was backed by Tennessee Governor Bill Haslam and other state dignitaries, when they opened their $22 million complex in Tennessee last year. Despite their well-supported launch into the marketplace, they are filing for bankruptcy.

More older Americans in need of debt relief for student loans

As some in Tennesseans may find, the student loan debt crisis affects not just young people in America, but also is affecting older people as well. According to the Consumer Financial Protection Bureau, the number of people across the United States, age 60 or above, with at least one student loan went up fourfold from 2005 to 2015.

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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