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Debt Relief Archives

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.

Protecting consumers from bankruptcy in Tennessee

Many Tennessee residents file for bankruptcy every year. Bankruptcy is often regarded as a sign of extreme financial problems. In many cases, one is compelled to file for bankruptcy, not only because of their financial miscalculations or bad investments, but also because they were victims of some fraudulent practices.

How should debtors in Tennessee select a debt relief service?

People who carry debt usually have one important concern: repaying it within a certain time. Tennessee residents who have debt do their best to repay their creditors as soon as they can, but sometimes this is not possible. People who face this problem often consider contacting a credit counseling or debt settlement service to get a handle on their problem. This may be a good option for eliminating debt, but only if the debtor has enough information about the debt relief service to know it is legitimate and offers a real solution.

Tennessee bankruptcy may offer medical debt relief

As many Tennesseans know, life is full of unexpected events that can wreak havoc on their personal finances. Some Tennesseans know firsthand that health problems can create some of the worst financial problems. Sometimes, income and savings cannot cover medical and related expenses and debts often pile up beyond the ability of a wage earner or household to pay. Eliminating such debts can become nearly impossible. One study notes that some 40 percent of Americans carry some health-care debt, and medical debt is the main reason people file for bankruptcy protection and debt relief.

Debt relief tips for a Tennessee fresh financial start

With the holidays fast approaching, many Tennesseans are probably thinking about what they want to buy. Unfortunately, others are thinking the opposite because they can no longer afford purchasing gifts because they are struggling with debts. Nevertheless, there are ways to finally achieve debt relief.

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