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Debt Relief Archives

Fighting different debt traps in Tennessee via debt relief

Personal debt could be anyone's problem, whether they have a lucrative career or are just earning enough to pay for their living expenses. Most families in Chattanooga, Tennessee, are on the same page with debt issues, especially for those who enjoy swiping their credit cards for every purchase, not realizing that this is presenting them with financial challenges. Under such circumstances, getting out of debt is the ultimate solution. Unfortunately, doing that may not be that easy with some of these debt traps.

Identifying spending triggers can help prevent debt

Shopping to meet basic everyday needs such as food, gas and clothing is just a normal part of living. Unfortunately for some people, the excitement they feel when they spend money can lead to compulsive shopping and sometimes to financial ruin.

Relief possible for Tennessee residents with debts from 2013

According to the Federal Reserve Bank, 2013's third quarter saw a 1.1-percent rise in consumer debt to $11.28 trillion. Basically, Americans overspent from July through September. Tennessee residents who were among these big spenders can follow this simple plan to climb out of debt.

Singer files for Chapter 7 bankruptcy in search of debt relief

Debtors anywhere, including Tennessee, can learn a thing or two from the recent troubles of country singer Eddie Montgomery. Because his reported debts of $13.4 million far outweigh his assets of $1.9 million, the singer recently filed for Chapter 7 bankruptcy. His debts reportedly stemmed from a bankrupt restaurant, Montgomery's Steakhouse in Harrodsburg, Kentucky, which is currently for sale. Proceeds from the sale will be used to pay off the debts from different creditors.

Bankruptcy can be best way out of holiday debt trap

During the upcoming holidays, thousands of Tennessee residents will make countless trips to shopping malls and retail stores to buy gifts. They should be careful, though, to avoid overspending using their credit cards, or they are likely to suffer a financial hangover with the arrival of New Year.

How proposed Medical Debt Relief Act could help consumers

Debts from small credit card purchases, mortgages and student loans are different from those accrued because of medical events, which are seldom planned and often arrive with enormous costs that may or may not be covered by health insurance. Even if a person's medical debt is not insurmountable and does not lead to bankruptcy, it can still affect a person's credit score.

Medical bills lead to significant debt and often contain errors

For many Chattanooga residents who are facing mounting debt, it is usually medical bills which are the source of that debt. However, many things can be done to get debt relief for those large medical bills.

New change for potential homebuyers who went through a hardship

For many people who have filed a bankruptcy, gone through a foreclosure or suffered some other type of financial hardship, they are typically told they must wait two to three years in order to able to try and purchase another home. These people are then forced to pay rent or find some alternative housing arrangement during that time. However, a new program from the government may shorten that time to a year.

400,000 Foreclosure victims had checks sent to the wrong place

For any Chattanooga residents who have had the unfortunate experience of having to go through foreclosure or are currently trying to get through foreclosure, there may be an additional complication. As if a few hundred dollars was supposed to be enough to make up for the travails suffered, now that foreclosure settlement check might have been sent to the wrong place.

Chattanooga residents deal with potential foreclosure sale

Many Chattanooga homeowners who know what it's like to worry about making ends meet also understand the fear people experience when they hear the word foreclosure. Oftentimes that worry alone makes debt relief seem so far away that it is a dream that is too good to be true. However, it is within reach, as one couple recently found out.

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