Credit card debt worsens for millennials
The so-called millennial generation has been described in multiple ways, and “financially savvy” would have been one such descriptor. Unfortunately for Tennessee residents of a certain age, those days are apparently over, with credit card debt showing a sharp rise among millennials. In an uncertain economy, there are multiple tactics millennials can use to overcome
Options for dealing with significant medical debt
When a person goes through a serious medical problem, serious medical bills often follow. Even with insurance, a trip to the emergency room, prolonged illness or surgery can ultimately result in medical debt that a person may not be able to manage. There are several things a person can do in this situation, and it
Chapter 7 bankruptcy can offer a fresh financial start
Financial stress can be both physically and mentally devastating. The unending worry can lead to sleepless nights, difficulty focusing and more. Yet, many Tennessee residents find themselves facing overwhelming financial stress all too often. In some cases, Chapter 7 bankruptcy is the solution that they have been looking for. Chapter 7 bankruptcy offers the individual
Debt relief, debt collection practices and consumer rights
Owing a significant amount of debt can have negative implications on many aspects of a person’s life. It can lead to difficulties that include accumulating debt, calls from debt collectors and more. One specific possibility is learning that the bill was sent to a collection agency. Tennessee consumers will find it beneficial to learn what
Many consumers unaware of their own credit card debt
Many Tennessee consumers use their credit cards to pay for daily purchases, including everything from groceries to gas to clothes. Because people use these cards so often, it is easy to see how a person’s debt could accumulate quickly, perhaps at a rate that surprised the consumer. Studies have found that a significant number of
How much debt is too much?
Debt is often crippling for Tennessee families. According to a recent report, on average, Tennesseans have more debt than they earn. That is, residents of the Volunteer State make roughly $52,400 per year while owing 108% of their incomes to debt. As you likely know, debt is often part of life. Unless you have limitless
Many college students already have credit card debt
Tennessee college students often struggle with finances, with many of them juggling full class loads and part-time jobs. Because money is tight for students, many of them rely on credit cards for daily purchases. This is trend that is becoming a serious issue as many of these college students end up graduating with a significant
Steps to avoiding serious medical debt
A medical emergency can upend a person’s financial stability in a matter of a few days or weeks. One unexpected hospital stay or accident can lead to medical bills that can quickly outpace a Tennessee consumer’s ability to keep up, resulting in overwhelming amounts of medical debt. This type of debt is one of the
Pending legislation could reduce medical debt
Medical care is expensive, even for Tennessee readers who have health insurance. Some things are not covered, and people may still have to pay if they see a practitioner who is not in their network. Understanding what is covered is a complex, confusing process, and many patients often find themselves with surprise medical bills because
The grave consequences of significant medical debt
Health care is expensive, even for individuals with insurance. For some in Tennessee, just one unexpected medical event can lead to a barrage of bills that a person can never hope pay. Many Americans struggle with medical debt, and it is one of the leading causes of financial stress. The Consumer Financial Protections Bureau estimates that