When Tennessee residents receive an offer to increase their credit limit, they may see that as a good offer. In some cases, a higher credit limit could be seen as a positive thing as it may indicate that creditors trust that the balances will be paid. However, high credit limits could also mean that there is a high chance to accumulate unmanageable credit card debt.
If a Tennessee resident has considerable debt, he or she is not alone. Many individuals across the country are affected by mounting credit card debt and other financial issues that can make their lives more difficult. In some situations, individuals may even be targeted for wage garnishment that leads to them losing part of their paycheck to creditors who are collecting for outstanding balances.
Falling on hard financial times can be a stressful burden for anyone. They can spend much of their time worrying over how they will take care of their credit card debt, and their health and relationships can suffer. When debt collectors and creditors begin to call, more stress can be added to the situation, and those suffering may not know where to turn. People need to be aware of their consumer rights and what options are available to them to get out from under debt.
Many Americans racked up significant amounts of credit card debt during the recession and even years before then. While many have slowly been able to pay down their credit card debt, many people are still struggling with unpaid debt.
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 creditors, you could be exposing yourself to serious legal consequences, from lawsuits to charges of bankruptcy fraud.
More and more students all across the country and right here in Memphis go to college and continue to graduate with more and more loan debt. However, with few debt management solutions available, more students worry about their loan's effect on their credit card debt.
The arrival of 2013 has most likely also brought some of our Tennessee readers a bit more of a debt burden on their credit cards. Buying presents, hosting parties and trying to make the holidays perfect for their families in general can lead some to go a little overboard with spending, leaving them facing financial challenges at the start of the new year. However, even if there was a temporary bump for many Americans in their credit card debt due to the holidays, a recent report has emphasized that, overall, Americans appear to be getting a better grip on their finances.
Along with people from all over the country, Memphis residents continue to file for Chapter 13 bankruptcy. However, the procedure for filing for Chapter 13 bankruptcy can be quite complicated, but both the federal courts (that administer the country's bankruptcy system) and Congress frequently attempt to work on streamlining the system to make it more uniform across the nation.
All over the country and right here in Memphis, people struggling with debt continue to file for personal bankruptcy. While filing for Chapter 13 bankruptcy can be a difficult and personal process for people, it can also provide a much-needed way out from overwhelming debt.
All across the country people deal with accounts going into collections. Asset forfeiture affects everyone, even musicians, many of whom have strong ties to the industry right here in Memphis. Recently, however, one legendary musician decided to fight back against an overzealous debt collector.