According to recent statistics, American consumers have reached a new milestone in the accumulation of household debt. Researchers place total household debt at $12.7 trillion, which is more money than was owed at the peak of the 2008 credit bubble. That previous high mark was achieved at the same time that the global financial system started to collapse. The numbers suggest that more and more consumers in Tennessee and beyond have a growing need for debt management solutions.
As a small business owner, you embody the American dream of pulling yourself up by your own bootstraps. However, with so many factors beyond your control, it is all too easy to become one of the 20 percent of new companies that do not make it through their first year.
It is difficult to turn on the television or open a newspaper without being bombarded with opinions surrounding the repeal or replacement of the Affordable Care Act. A great deal of effort is being put toward finding a health care approach that will provide the greatest good to the greatest number of Americans. For many in Tennessee, medical debt is a serious financial problem, one that is exacerbated by a lack of quality health insurance coverage. Recent research suggests that the Affordable Care Act not only provides health care to millions of Americans, but also has helped many people avoid Chapter 7 bankruptcy.
Virtually all Tennessee residents are aware of the need to prepare for their retirement years. In practice, however, many people fail to make adequate preparations, and find themselves in dire financial straits during their later years. Others are simply victims of circumstance, and have fallen into debt through no fault of their own. No matter how a senior citizen reached the point of serious financial strain, finding relief is often a top priority. Chapter 7 bankruptcy is one path back toward financial stability.
Anyone can find themselves in need of urgent medical care, whether through an unexpected illness or injury. Being faced with a serious health concern is a stressful matter, and one that can be difficult for Tennessee families. Once the patient has been stabilized and is in the process of healing and recovering, yet another stressful situation begins: the medical debt that so often follows a hospitalization. Knowing how to deal with those charges can help individuals avoid excessive medical debt.