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April 2020 Archives

Debt management could be the right way to deal with some balances

When a Tennessee consumer is facing overwhelming debt, it can lead to various types of financial complications. One of the most frustrating consequences is the constant contact and attempts at collection by debt collectors and creditors. To make this stop and to deal with various types of unpaid balances, a consumer may consider filing for bankruptcy. While this is a helpful step for many, it is possible there is a better option through debt management.

Will credit card debt land a consumer in jail?

There are many consequences that come as a result of owing a significant amount of debt. For Tennessee consumers who have past-due credit card debt, one of the most prominent consequences is dealing with creditors and debt collectors who are trying to collect payment. One method they sometimes employ is scaring the consumer with certain repercussions if he or she does not pay. 

Medical debt is a major problem for many Tennessee patients

Medical care is expensive, even for those in Tennessee who have insurance. A hospital stay, prolonged illness or traumatic injury can result in bills that can quickly overwhelm a patient and family. Insurance doesn't always cover every aspect of a patient's care, and the result can be medical debt and mounds of paperwork that can become unmanageable. 

Does forbearance actually lead to more credit card debt?

There are many reasons why Tennessee consumers are not able to make timely credit card payments, and it is often because of reasons beyond their control. Whether it is because of job loss, sickness or other reasons, credit card debt can quickly accumulate when there is a reduction in income or unexpected expenses. This may leave some consumers in a place where they want to explore the possibility of forbearance.

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