Even as the economy shows signs of improvement, the Great Recession had a huge impact on Tennessee residents' finances, and many are still dealing with economic issues related to the downturn of the last few years. The unemployment rate is still high, underemployment...
Stop Worrying. It’s Going To Be Ok.
Ben Sissman, Attorney at Law
Consumer protection bureau adds oversight to more student loans
The Consumer Financial Protection Bureau has announced a plan to provide additional oversight for student loan collections practices, helping to ensure that borrowers with student debt are not subject to the stress and difficulty of dealing with disorganized...
Income tax exemption and liability is complex for cancelled debt
In one of our recent posts we discussed the impact that forgiven credit card debt can have on federal income taxes. With tax season approaching and many Tennessee readers in the process of preparing their tax return, it is important to take into account the variety of...
Regulators look for solution to payday lending debt trap
Regulators at the Consumer Financial Protection Bureau have announced that they are investigating the practices of payday lenders, which are banks and other organizations that make loans to individuals using a post-dated check as collateral to advance a paycheck. The...
This tax season, don’t forget about forgiven debt
For Memphis residents who have been through the bankruptcy process this year, the process of restructuring debt offers much needed relief from the stress of being unable to make regular payments. The bankruptcy process does offer finality and a clear resolution to...
Don’t get scammed by phony ‘debt relief’ companies
With as many people as there are across Tennessee and the entire country struggling to pay their bills, it's no surprise that there are bad actors out there trying to take advantage of a bad situation. The story of what happened to one Tennessee woman should serve as...
Too many Americans have more credit card debt than savings
One of the most important things that people in Memphis and elsewhere can do to avoid having to file for bankruptcy is to save a decent amount of money to get you through an emergency. Of course with the economy the way it is, it would have been impossible for many...
Coach’s creditor files lawsuit claiming bankruptcy fraud
One thing you have to consider when filing for bankruptcy is that you have to be prepared to give an honest account of all your assets. If you are caught hiding assets in an attempt to avoid liquidating them or altering the amount of money you have to pay your...
Bankruptcy can teach some valuable lessons to Tennesseans
One of the lessons that anyone can learn from filing for bankruptcy is to decide what is and wasn't important. For many people filing for bankruptcy under any chapter of the U.S. Bankruptcy Code, you will have to decide what you can sacrifice financially in order to...
Average credit scores of Tennessee residents plummet in last year
A new report out is bad news for not just residents of Memphis, but all Tennessee residents. The new report indicates just how far credit scores have fallen for Tennessee residents during the last year. A bad credit score can have many negative effects on a person's...