Receiving a medical bill when uninsured is never fun, but at least it is expected. Receiving a bill when covered, however can be a huge surprise, especially if it is for an amount that is unaffordable. Unfortunately, this happens more often than people imagine and balance billing is the culprit.
Last week's record setting Powerball jackpot had three big winners. The only ones to come forward publicly so far are a couple from Tennessee. The Tennessee Lottery reports that the spouses will walk away with a lump sum cash payment of more than $300 million. While such an incredibly large windfall sounds like a dream come true, in reality many lottery winners eventually end up in a worse financial situation after their big win and many go on to declare bankruptcy.
Of all the types of debt incurred by people in Tennessee each year, it appears that credit card debt carries the largest stigma. According to Time magazine, the average American household has over $15,000 in credit card debt and 70 percent of Americans think credit card debt is more looked down upon compared to other types of debt.
Like most people, you probably rely on Google or other search engines to find answers to your most pertinent questions. The days of heading to the library are rapidly dwindling, and looking up a reputable business in the Yellow Pages is a quaint activity you might only consider during a power outage. But the Internet hasn't eliminated the need to vet the information you find and seek professional help.
Each year, thousands of Tennessee residents make the decision to file for Chapter 7 bankruptcy. Indeed, Credit.com reports that Tennessee has the highest bankruptcy rate of any state in the nation. Those considering filing for Chapter 7 bankruptcy in Tennessee should be aware that certain circumstances may preclude them from being eligible for a Chapter 7 filing.
Adult children with ailing or recently deceased parents may wonder if they can be held liable for any of their parents' unpaid medical bills. More than half of the states have laws in place regarding this issue known as filial responsibility laws. According to Forbes, these laws state that if a court finds that a parent is unable to pay their own medical bills or care for themselves, his or her children may be responsible for covering the costs of care. Tennessee is one of those states.
As people embrace a new year, they start planning out the goals that they want to accomplish. For some people in Davidson, they may feel that this is the year to get their finances in better shape. One way to do this is to restructure a mortgage or seek help from a company that promises they can help them deal with their large payments. However, national agencies have found that many of these companies are nothing more than a scam - out to make money off of people who are struggling to do the right thing. Therefore, it is important for people to take steps to protect themselves from mortgage fraud.