Menu Contact
William E. Maddox Jr., L.L.C.
Get Rid Of Your Debt And Get On With The Rest Of Your Life
Call For A Free Consultation
800.440.6505
865.314.8062

January 2019 Archives

Using a debt tracker to develop a strategy for debt relief

Upon encountering substantial financial difficulties, many consumers in Tennessee and elsewhere may be willing to try just about anything to be free of debt. Since there are a variety of tactics to employ when pursuing debt relief, choosing the most viable option can be intimidating at times. In some cases, one who is facing similar concerns might be able to stave off debt by using a debt tracker.

Many people find themselves overwhelmed by medical debt

Medical care is expensive, even for people in Tennessee with health insurance. Even a minor procedure or one visit to the emergency room can result in crippling medical bills and overwhelming debt. It is common for people with some type of coverage to accumulate significant medical debt because of a chronic health condition, emergency health issue or surgery.

Credit card debt can quickly become overwhelming

Most people in Tennessee and around the country want to pay their bills, be responsible citizens and provide for their families. In a healthy economy, this should be an achievable goal. The reality is that even though the economy as a whole is healthy, wages have not kept up, and many people struggle to pay their monthly bills. If an un-anticipated crisis such as a layoff or health issue occurs, barely keeping up can rapidly become failing to keep up. Credit card debt can contribute significantly to the seriousness of the situation.

Chapter 7 bankruptcy: Voluntary or involuntary property transfer

A business entity or an individual borrower who is unable to repay creditors for loans, goods or services will generally file a court petition to declare bankruptcy. In some cases, however, U.S. bankruptcy laws under 11 U.S.C.ยง303 authorize creditors to force delinquent borrowers through bankruptcy court involuntarily. Perhaps the lender suspects the borrower of hiding assets or refusing to file bankruptcy on his or her own.

Debt relief: Out goes the holidays, in comes the bills

Over the holidays, many consumers in Tennessee may have taken full advantage of the ease of access involved with using a credit card to fund purchases. Now that it is time for the bill to come due, some may be struggling to deal with the overwhelming financial weight of their previous decisions. While this may lead to a temporary halt in spending for many individuals, for others, it could prompt a need to pursue debt relief.

Issues with high levels of credit card debt can be overwhelming

There are many individuals in Tennessee and elsewhere who have experienced the struggle of dealing with overwhelming financial obligations. While one may encounter these issues under a variety of circumstances, studies indicate that credit card debt accounts for nearly 25 percent of the average person's financial woes. Those who struggle under the weight of debt may wish to implement a plan to take back control of their finances, but they might be uncertain where to begin.

608 Mabry Hood Road Suite 202 Knoxville, TN 37932 Toll Free: 800-440-6505 Phone: 865-314-8062 Fax: 865-293-4969 Knoxville Law Office Map