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May 2016 Archives

Millions of Americans are behind on their student loans

The inability to pay for a college education is a huge problem facing many Tennessee residents. For many people, taking out loans is the only way they have to afford the tuition to obtain a degree. However, paying back those loans is often a difficult proposition and as recent numbers indicate, the number of borrowers who are behind on their student loan payments is alarming.

Is it a good idea to lie on my credit card application?

Being in a situation where money is tight is never fun. When you have limited means of securing money quickly, it may be tempting to lie about how much money you make in order to get approved for a credit card with a very high limit. However, this is not a good idea as it will likely only lead to more trouble down the road.

Bankruptcy and student loan debt

If you are one of the millions of people in the country that owe money on government student loans, you would probably like to see that balance be discharged as part of your bankruptcy. At Rothschild & Ausbrooks, PLLC, we understand that the bankruptcy process can be frustrating. Understanding how student loans factor into your debt can help make the Tennessee bankruptcy process less stressful.

Cash strapped millennials increasingly look to payday loans

When an unexpected cost comes along, those who may not qualify for traditional financing may turn to payday loans to get the money they need. While these types of cash advances can seem attractive, they are often disastrous for borrowers who end up paying exorbitant amounts of interest and driving themselves deeper into debt. In fact, the average interest rate for a payday loan is 391 percent, according to CBS News.

Bankruptcy can take an unspoken emotional toll on many people

While bankruptcy can bring financial relief to many Tennessee residents, there is often not a lot said about the psychological and emotional repercussions it can have on a person. The shame some people feel from drowning in debt leaves their self-esteem in shambles long after the bankruptcy has been discharged, according to U.S. News & World Report.

What are some tips for using a credit card responsibly?

Whether you are looking to avoid bankruptcy or are starting over after one, responsible use of a credit card can be a great way to manage your finances and rebuild your credit. However, it’s not always easy to know exactly what the best practices are, especially if you have made mistakes in the past. According to TIME Magazine, following a few useful tips can help keep you on track.

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Rothschild & Ausbrooks, PLLC
1222 16th Avenue South, Suite 12
Nashville, TN 37212

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