With the continuing housing market problems in Memphis, a lot of homes and businesses have gone vacant. This can create blight in a neighborhood, leading to an increase in crime and lower housing prices. To avoid losing houses individuals and their neighbors could turn to Chapter 13 bankruptcy.
In Memphis and across the country, recent college graduates are facing mounting debt from student loans. As 1 in 5 households experience student loan debt, many people may be looking for sources of debt relief.
Often people choose to invest their hard earned money in other companies and real estate. Sometimes these investments pay off, literally. But what happens when the investment does not work as planned and the investor ends up in debt?
In tough economic times, many people find themselves in debt. In Memphis, people continue to pay their bills late and may max out their credit cards as a result of financial difficulties. Some, however, turn to bankruptcy or other options for debt relief.
Tennessee banks that tapped a federal fund targeting small business loans have witnessed lending activity higher than the national average. However, according to the findings in a recent survey taken by a research firm, small business owners in Tennessee and across the country may still hold fears about incurring and managing debt in the struggling economy.
As many Tennesseans face increasing medical costs, a recent article about the financial woes of the Medicare program may cause many to fear that their medical debt will soon become unmanageable.
According to a recently released study by CardRatings.com, personal credit conditions in Tennessee are the 10th worst in the nation.
According to a foreclosure listing firm, the number of U.S. homes entering first-time foreclosure proceedings in Tennessee and nationwide increased on an annual basis for the second month in a row. Lenders initiated foreclosure proceedings on 12% of loans behind in payment in June.
According to a recent report, the number of consumers filing for bankruptcy or seeking other court protection from creditors declined by 13% in the first half of 2012. That's good news for consumers in Tennessee, which at 6.99% ranks among the top 5 states in the country for per capita bankruptcy filings of all types, including Chapter 13.