Menu Contact
William E. Maddox Jr., L.L.C.
Get Rid Of Your Debt And Get On With The Rest Of Your Life
Call For A Free Consultation

debt relief Archives

Debt relief: Addressing financial concerns early in life

Dealing with debt can be a stressful and taxing experience at any stage of life. However, for individuals in Tennessee who are just starting out, similar hardships could leave them uncertain about the future. To protect one's financial future, a person may find it advisable to gain an understanding of the potential consequences of certain decisions and how to know when it is time to pursue guidance on the available options for debt relief.

Gaining an understanding of one's options for debt relief

There are a multitude of scenarios in which individuals in Tennessee may experience the hardships of dealing with debt. Whether from a change or loss of employment, or even an unexpected medical emergency, similar issues could have a devastating impact on one's future. Regardless of how it occurs, those who are struggling with overwhelming monetary burdens may wish to pursue debt relief, but they might need guidance in the process.

A settlement might not be the correct path for debt relief

When it comes to pursuing relief from debts, individuals in Tennessee and elsewhere may have a variety of options to choose from. However, finding the correct path with which to pursue debt relief can be challenging, and certain options might not be as good as they seem. Those who wish to explore debt settlement as an option may find it beneficial to consider the potential downsides of a similar choice, as other outlets could prove much more viable.

Actor Joey Lawrence turns to bankruptcy for debt relief

Taking a hard financial hit can cause anyone to struggle. In many cases, people who find themselves unemployed or bringing in a considerably lower income than previous years could easily wind up accruing substantial amounts of debt. Even celebrities can find themselves facing this type of predicament and may soon be on the look out for debt relief options.

New administration looking at possible student loan debt relief

Many individuals in Tennessee and elsewhere attend college to obtain a degree so that they can build a career in their chosen fields. However, the cost of college continues to rise each year, and many students are left with overwhelming debt in the form of student loans upon graduation. The current presidential administration is looking into ways to allow indebted college students the chance at discharging their loans in bankruptcy, thereby providing much-needed debt relief for those struggling to make ends meet.

Beware of scammers offering debt relief

Dealing with overwhelming debt is never easy, and many try to find solutions for their predicaments on their own that does not include bankruptcy. Instead, they seek other alternatives that they believe will be just as effective, such as debt consolidation. However, as one Tennessee woman recently found out, many companies exist that prey on unsuspecting consumers looking for debt relief.

Debt relief through bankruptcy may help seniors keep their home

The financial problems faced by some seniors living in Tennessee and other states can be overwhelming. A couple in their mid-eighties who have amassed $50,000 in credit card debt and another $50,000 in medical bills, and with a home that is mortgaged, may find that the most sensible and effective debt relief remedy is a Chapter 7 bankruptcy. Prior to making the decision, however, the couple will benefit by consulting with an experienced consumer bankruptcy attorney to determine if they are qualified to file and what will be the impact of the filing. 

Mortgage statistics suggest need for debt relief

Recently released statistics suggests that first-time homeowners are defaulting on their mortgages for the third straight month in a row. After months of stability, it appears that consumers are beginning to encounter financial difficulty. That could leave more individuals and families in need of debt relief services, in Tennessee and elsewhere.

Can becoming a minimalist help achieve debt relief?

In recent years, there has been a significant trend toward living a minimalist lifestyle. The definition of "minimalist" is difficult to pin down, but the overall concept is to set aside material things and focus on only those possessions that serve a purpose or bring a true sense of joy. For those in Tennessee who are looking for debt relief options, the idea of a minimalist lifestyle can be very appealing.

Homeowners sought debt relief, but some were met with foreclosure

Faced with losing their home, many Tennessee residents will go to great lengths to avoid that outcome. That includes working with their loan servicer to pursue available debt relief options. In many cases, those efforts are successful. At times, however, borrowers are subjected to questionable business practices. Protecting Americans from unlawful and unfair actions is the role of the Consumer Financial Protection Bureau (CFPB,) and that entity has recently announced more than $1 million in fines directed at Fay Servicing, a loan servicing company.

608 Mabry Hood Road Suite 202 Knoxville, TN 37932 Toll Free: 800-440-6505 Phone: 865-314-8062 Fax: 865-293-4969 Knoxville Law Office Map