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Debt Relief Archives

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.

When one is facing wage garnishment, is bankruptcy an option?

When a person in Tennessee is unable to pay their bills, eventually, they could face having his or her wages garnished to pay back their debts. Obviously, wage garnishment puts a person who was already facing insurmountable debt in an even worse financial situation.

Is debt relief available for surprise medical bills?

Most individuals in Chattanooga, who become sick or injured, simply want to get better. While their main concern may be regaining their health, afterwards, they may wonder exactly how much their care will cost them. If they have health insurance, and took care to seek treatment from an in-network health care facility, they may think that most costs will be covered. However, sticker shock may be in store for them in the form of a surprise medical bill.

What are some student loan debt relief options?

Many young adults in Tennessee have found themselves in a catch-22. They may have gone to college to obtain a good-paying job, but in the process they may have racked up thousands of dollars in student loans. Moreover, there is no guarantee that after graduation they will be able to find a job that pays well enough to have them cope with the high student loan payments they now face. They may wonder if there is any way they can eliminate debt related to student loans.

Mortgage debt plagues many, but debt relief may be available

Tennessee residents may be surprised to hear that according to one report, as of May 2016, the amount of consumer debt owed nationwide totaled $3.4 trillion. On average, American households with debt have approximately $16,000 of it. This is a 10 percent increase from the amount of debt owed in 2012.

$96 million in debt forgiven in USA Discounter settlement

It is not unusual for consumers in Tennessee to purchase furniture, jewelry or other expensive items on credit. However, that doesn't mean that stores won't use predatory credit and collection practices against consumers. Fortunately, debt relief may be available through various means.

Can a formal non-bankruptcy workout help me?

Filing for bankruptcy may be the preferred option for some residents in Tennessee who are simply drowning in insurmountable debt and have no other way out. However, other debtors in Tennessee facing a significant amount of debt that they are having trouble keeping up with may have another option, a non-bankruptcy workout.

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

Phone: 423-624-4002
Toll Free: 800-257-7594
Fax: 423-624-0509
Chattanooga Law Office Map