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October 2013 Archives

Tennessee residents may look to Chapter 13 after holiday spending

Large meals, family gatherings and gift giving are often occasions that indicate that the holiday season is near. As a result, consumers may be spending more money than usual as they purchase ingredients for special dishes, make travel plans and search for presents. The aftermath of the holiday season, however, can leave some Tennessee residents with considerable debt accumulated from their credit use, and understanding options such as Chapter 13 bankruptcy may be beneficial.

Bankruptcy could help stop wage garnishment in Tennessee

Many people living in southern states experience fewer opportunities for higher education, and statistics indicate a lower employment rate in this region of the country. As a result, many residents rely on credit to help supplement their low incomes. Accruing significant amounts of debt can be detrimental for workers as wage garnishment is more easily put into place by creditors in states such as Tennessee.

Chapter 7 could help Tennessee residents laden with medical debt

When many Tennessee residents think of medical expenses, the typical issues that come to mind are treatments for illnesses. However, it is also important to remember that dental issues also fall under medical treatment, and therefore, these issues can contribute to a person being burdened with medical debt. Mounting medical bills are a particular concern for older adults, especially since many dental procedures are not covered by certain insurance. Needing an expensive procedure may lead to a person looking into their finance options, but Chapter 7 bankruptcy should not be forgotten as an option.

Credit card debt could be harder on more older adults than young

Stereotypically, young people in Tennessee and across the country are often thought of as being irresponsible with money and more likely to find themselves in a difficult financial situation. However, a recent study has found that though young people may accumulate credit card debt, they are not more likely to stop making their payments. There could be several reasons for this, but it leads to statistics showing that people closer to middle age are more likely to have credit issues.

Mounting debt should not mean harassing phone calls in Tennessee

Considerable debt can be stressful enough for Tennessee consumers without the added reminder from collection calls. It is true that debt collectors have the ability to take certain actions against debtors, but it is also true that they may not harass or illegally intimidate those with mounting debt. If a person dealing with a difficult financial situation finds themselves on the receiving end of harassing phone calls, they may be able to take legal action.

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Ben Sissman, Attorney at Law
44 North Second Street, Suite 403
Memphis, TN 38103

Phone: 901-730-4958
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