According to a recently-published study, at least 25 percent of those from either the Millennial
According to a recently-published study, at least 25 percent of those from either the Millennial or GenX population find themselves encumbered by medical bills. These same groups, which cover the 18- to 50-year-old demographic, comprise the population with the highest medical debt among any generational group as well. While an initial thought process may lead
Many struggle with credit card debt after divorce
For many Tennessee residents, going through a divorce can lead to serious financial problems. To begin, simply having to operate two households with the same income that previously covered one will put a squeeze on the finances of both parties. Then there is the matter of property division to consider. The division of marital wealth
When most people file for bankruptcy, they assume it’s very much a file-it-and-forget-it type
When most people file for bankruptcy, they assume it’s very much a file-it-and-forget-it type of situation where a judge will approve their request for debt relief. However, it’s not. Instead, filing for and having your bankruptcy discharge request approved may not happen if the trustee in your case has reason to suspect you were untruthful
Is a stronger economy weakening consumers financially?
Economic turnarounds usually motivate American consumers to spend more. The end of the Great Recession of 2008 was no different from other recoveries. The good news is that buying habits are reverting to pre-recession levels. The more troubling news is that purchases are being put on plastic. Credit card debt is growing at record levels.
A recent study conducted among 1,000 adults between February 23 and 24, 2017 suggests the increased health care
A recent study conducted among 1,000 adults between February 23 and 24, 2017 suggests the increased health care costs continue to plague the American consumer. The study, a collaborative effort carried out by the global market research firms, Amino and Ipsos, suggests that American consumers continue to be plagued by concerns over overwhelming medical debt
Authorized users can create serious credit card debt
Many Tennessee residents have added a friend or loved one to one or more of their credit cards. Adding someone as an “authorized user” can help boost their credit score, and is a great tool for someone who is just starting to establish credit, or is recovering from a serious credit score setback. This act
For student loans, what was old is new again
Despite regulations established by the now former president, student loan debts continue to rule. Delinquencies remain a serious problem as most borrowers are behind on their payments. Since 2013, the average past due balance increased by 17 percent. Currently, 42.4 million people in the United States have student loan debts exceeding a combined $1 trillion.
Wanted: more bankruptcy judges
For many consumers and businesses looking for relief from crushing debts, bankruptcy is a necessary process. However, the process can be complex, lengthy and discouraging, especially when bankruptcy judges are at premium and carry overwhelming workloads. Frustration only mounts for those in need of help. According to a bipartisan group of U.S. senators, permanent temporary
Nearly 1 in 3 Tennesseans Has Medical Debt
Nearly one in three adults in Tennessee has outstanding medical debt. According to The Tennessean, this figures as the seventh-highest medical debt rate in the country. Unfortunately, as insurance premiums continue to rise and many stand to lose their insurance altogether, the statistics aren’t likely to get much better any time soon. Researchers note that
When it comes to debt, there are two different types
When it comes to debt, there are two different types, secured and unsecured. While secured debt is essentially a credit line backed by a tangible asset, an unsecured one is not backed by any contingencies. Even though they differ in this respect, they both can adversely impact an individual’s credit score, resulting in collection calls,