The U.S. has already reached a new milestone in the first month of 2018. According to people at the Federal Reserve, the total amount of credit card debt in the United States has exceeded over $1 trillion. This is a new high, and it should be a wake-up call to many people to get their finances in order.
When you are in debt, bankruptcy is not your only option for debt relief. Perhaps you want to avoid bankruptcy at all costs. In your efforts to do so, you may find yourself the victim of a debt consolidation scam.
If your life is in financial turmoil, you may finally be considering filing for bankruptcy. The problem is, you have some doubts and fears. These are probably preconceived notions that just need ironing out.
It is not unusual, and sometimes it is worthy and commendable, for Tennessee residents to try almost anything to avoid bankruptcy. After all, responsible adults generally want to pay their just debts. Often, people try debt management programs, which can come with its own set of risks but at times can be effective.
Student loan debt has gotten out of control. Over $1 trillion in student loan debt exists throughout the United States. Out of that number, approximately $22 billion belongs to people in the state of Tennessee, according to an article found in the Memphis Business Journal.
Lawsuits are prevalent in the American legal system. In fact, information from Common Good states that each year in the United States, citizens file over 15 million lawsuits. Lawsuits can range in severity from frivolous to extreme.
Young adults and senior citizens alike are legally able to file for bankruptcy. Of course, just because something is permissible does not always mean it is a good idea.
As a small business owner, you embody the American dream of pulling yourself up by your own bootstraps. However, with so many factors beyond your control, it is all too easy to become one of the 20 percent of new companies that do not make it through their first year.
Living in Knoxville means you are no stranger to hard work. There is nothing wrong with you wanting the finer things in life. But if you have racked up a ton of credit card debt to get those things, then you may be facing some gut-wrenching decisions to improve your financial situation. No matter what you decide, it is possible for you to overcome this ordeal.