Ben Sissman, Attorney at Law
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September 2013 Archives

Chapter 13 may be an option if prioritizing income is not enough

Many Tennessee residents who are burdened with debt are keenly aware of where their money goes. Even if money is being spent on necessities, there could be a nagging thought of how that income could be going toward outstanding balances. Prioritizing and delegating where income goes can help to a certain extent, but significant debt may need further consolidation efforts, such as Chapter 13 bankruptcy.

Chapter 7 could possible help decrease consumer debt nationwide

The amount that consumers spend in the United States is kept up with through studies in order for those spending habits to have a yearly comparison. These comparisons often help present facts indicating how much debt citizens have accrued over certain parts of the year and over the year as a whole. Certain trends are found through the keeping of these records, but those trends do little to suggest a significant decrease in personal debt. Many Americans, including those in Tennessee, are still victims of burdening debt and could possibly benefit from Chapter 7 bankruptcy.

Medical debt could lead to wage garnishment in Tennessee

Having significant debt is a burden that affects a vast number of people. Many Tennessee residents have been found to forego putting money toward certain necessities, such as medical treatment, in order to put their income toward paying off their debt. Delaying medical treatment can cause an increase in health problems, but many people who do seek treatment end up with considerable medical debt and more stress to deal with. If medical debt is not being paid back in a timely manner, collectors could begin wage garnishment.

Tennessee residents should take steps to deal with mounting debt

When Tennessee residents are faced with significant amounts of debt, they may feel that they will be burdened with it for the rest of their lives or that there is no beneficial way to deal with it. Fortunately for them, there are many ways to deal with mounting debt and start toward an improved financial situation. Taking the first step is often the hardest, but once consumers begin a path toward managing their debt, they may see that several options are open to them depending on their specific circumstances.

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Ben Sissman, Attorney at Law
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Memphis, TN 38103

Phone: 901-730-4958
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