In times of financial struggle, many individuals in Tennessee and elsewhere may be forced to experience a paycheck-to-paycheck lifestyle just to get by. Unfortunately, as debts continue to be a concern, some may face the possibility of having a portion of their wages withheld. Wage garnishment is a serious concern for many, and those who are confronted with the likelihood of a similar issue may wish to know the measures they can take to protect their paycheck.
There are a variety of circumstances in which a person in Tennessee may experience the burdens of dealing with substantial amounts of debt. However, certain areas tend to be more troublesome than others, and many individuals have faced financial struggles due to credit card debt. With reports suggesting that individuals across the nation piled on more than $90 billion in credit card bills in the previous year alone, such monetary issues may be more common than expected.
Life can be tough when you owe several creditors. Not only do you have to deal with paying your basic monthly bills, which alone can be difficult, but you are also trying to handle the stacks of letters and phone calls coming in from debt collectors. You and other Tennessee residents who are having financial difficulties might be bothered to the point of harassment by creditors. It is important to understand that some common creditor tactics are against the law.
Taking a hard financial hit can cause anyone to struggle. In many cases, people who find themselves unemployed or bringing in a considerably lower income than previous years could easily wind up accruing substantial amounts of debt. Even celebrities can find themselves facing this type of predicament and may soon be on the look out for debt relief options.
Many people in Tennessee and elsewhere carry balances on their credit cards from one month to the next. Although credit cards offer a convenient form of payment, consumers who do not pay their balances in full each month incur additional credit card debt through the high interest rates many cards charge. Now, the federal government is expected to increase interest rates, which is likely unwelcome news to the people who owe significant amounts on their credit cards.