608 Mabry Hood Road, Suite 202 | Knoxville, Tennessee 37932
4th quarter spending may leave many with credit card debt
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.
Reports suggest that a significant portion of credit card usage over this period took place solely in the fourth quarter of the year. This may come as little surprise, as many individuals turn to similar lines of credit to purchase gifts for loved ones over the holiday season. However, many of those surveyed admitted they also used their credit cards to seek medical attention.
Whether to fund a special occasion, or for assistance with day to day expenses, many have turned to credit cards for relief in times of financial trouble. While the aid provided by similar lines of credit could be immediate, it may only act as a temporary fix, and may even cause a person to experience deeper financial concerns in the future. With ever-increasing interest rates, those who carry constant balances on credit cards may only continue to experience monetary hardships.
Those who suffer due to overwhelming amounts of credit card debt may wish to pursue financial relief, but with numerous available options, they may be uncertain how best to achieve this goal. For advice on choosing a path for relief, a person in Tennessee could consult with an experienced attorney. An attorney can evaluate a client’s situation and provide guidance on how to reduce or eliminate debts and pursue a healthier financial future.
Source: yahoo.com, “Credit card debt has now reached pre-recession levels“, Brittany Jones-Cooper, March 8, 2018
Thank you. Your submission has been sent.
608 Mabry Hood Road, Suite 202
Knoxville, Tennessee 37932
William E. Maddox, Jr. LLC, Attorney at Law is located in Knoxville, TN and serves clients in and around Knoxville, Oak Ridge, Louisville and Anderson County.
Attorney Advertising. This website is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. [ Site Map ]
Martindale-Hubbell and martindale.com are registered trademarks; AV, BV, AV Preeminent and BV Distinguished are registered certification marks; Lawyers.com and the Martindale-Hubbell Peer Review Rated Icon are service marks; and Martindale-Hubbell Peer Review Ratings are trademarks of MH Sub I, LLC, used under license. Other products and services may be trademarks or registered trademarks of their respective companies. Copyright © 2021 MH Sub I, LLC. All rights reserved.