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Helping good people through bad times

Debt Relief Archives

What is wage garnishment?

Tennessee residents can find themselves struggling with their personal finances, especially in situations where people get behind in their bills and are unable to catch up. Medical debt, credit card debt and student loans can all make it difficult for individuals to make ends meet. When this happens, people can face a variety of legal consequences. In some cases, people can find themselves facing wage garnishment.

The impact of debt relief on taxes

Many Tennessee residents are in need of debt relief. Some have spent years relying on credit cards to make ends meet. Others may have crippling medical debt or student loan debt that makes it difficult for them to meet their other financial needs. In other cases, a job loss may prevent people from being able to pay their bills. No matter what is causing a person financial distress, debt relief options can prove very useful.

How should a debtor choose a credit counselor?

Tennessee residents who are unable to manage their finances may be having trouble making ends meet due to limited income and might consider engaging the services of a credit counselor. A credit counselor advises consumers about effective ways to repay existing debts to help them make a fresh financial start.

How does credit counseling help Tennessee debt problems?

In these times of economic downturn, having unpaid debts is quite common in Tennessee. There are many families in Tennessee who are desperately trying to pay off their existing debts and start saving for a financially secure future. However, many fail to do so because of a lack of proper guidance regarding their financial planning.

What to look for Tennessee debt relief

When people anywhere in the country, including Tennessee, get into financial trouble and are not sure how they will be able to pay their bills and manage their money, they often begin to consider the use of a counseling service. Many free or low-cost services are available through military family help centers, religious organizations, credit unions and local not-for-profit agencies. They can provide much needed assistance, largely by showing people the best way to manage a budget, maximizing income and creating a plan to repay off debts as quickly as possible.

Why filing for bankruptcy may be a worthy option for seniors

Many older, retired residents of Tennessee and Georgia often bear the brunt of financial burdens due to medical expenses or helping family members in need. According to experts, bankruptcy can release the burden of certain debts and still protect retirement assets. However, research has shown that most retirees hesitate to file for bankruptcy when it is needed as quickly as possible, perhaps due to the stigma of failure that some associate with bankruptcy.

The FTC's stringent monitoring of debt settlement firms

People who are trying to settle their debts often approach debt settlement agencies that claim they can help customers eliminate debt. Such agencies will negotiate with creditors and reduce the amount of money that a customer owes them by as much as 30 to 70 percent of the debt.

How do you steer clear of student loan debt relief scams?

According to reports, as much as $1 trillion in student loans are owed and this debt crisis is affecting as many as seven million borrowers across the country, including many Tennessee residents. Borrowers in Chattanooga and the rest of the state may be aware that this situation has encouraged unscrupulous businesses to take advantage of borrowers desperate to obtain student loan relief. These scammers make false commitments and charge thousands of dollars in fees for a service that has negligible or no value.

Do's and don'ts when a debt collector files a lawsuit

Many Chattanooga, Tennessee, residents understand that debt relief options such as bankruptcy may require the debtor to deal with a number of creditors, or debt collectors, before the debt is paid. Sometimes, that may lead to a dispute between the debtor and the debt collector over a particular issue. In such cases, the debt collector may sue the debtor under the provision of Section 811 of the Fair Debt Collection Practices Act.

Driver's license may be suspended for student loan defaulters

Many Tennessee college students fund their education by taking out student loans. However, repaying student loan debt can be very difficult. Many students often default on their payments, even after getting a job. In some cases, the student may not get a job right out of college, at the same time that he or she is asked to start the repayment process.

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