If you live in Nashville and are struggling with debts that you cannot pay, you may receive contact from companies who are looking to collect on your outstanding balances. Creditors often sell their debts to companies who then attempt to induce consumers to make payment. Despite the fact that those agencies are restricted by certain regulations when it comes to contacting debtors, many do not follow the rules. At Rothschild & Ausbrooks, PLLC, we know how stressful it can be when a debt collector threatens or harasses you.
Payday loans are tempting, especially if you have reached your stress level over being broke. The lure of quick cash may be too tempting to resist, especially due to its simplicity. You request an amount of money, typically less than $500, and the lender verifies your income. Within a few hours, you have money in your hand.
If you have reviewed your debt relief options and have decided that you want to repay as much debt as you can and keep your assets, then Chapter 13 is likely going to be your best option. This plan gives people the tools they need to reorganize debt and establish a plan with creditors to repay some or all debt over time.
If you are like 171 million other Americans, you have at least one credit card. In fact, chances are that you have at least a couple credit cards you use. According to recent reports, the number of credit cards accounts is growing quickly, and people are carrying higher balances on these cards than in recent years.
Filing for bankruptcy is never an easy decision, and there are many reasons why Tennessee consumers are hesitant to take this step. There are many negative connotations associated with bankruptcy, but in reality, it is a smart step for many individuals who find themselves overwhelmed by debt.
Constantly dealing with overwhelming debt can have an extremely detrimental effect on a person's quality of life. Credit card debt and medical expenses are just two examples of debts that put a multitude of individuals through periods of financial struggle. Perhaps you are suffering under similar financial circumstances, and you may be wondering about available options for relief.