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Credit Card Debt Archives

Is debt consolidation right for you?

Your struggles with credit card debt might seem embarrassing, yet you should know that you are hardly the only one in Nashville dealing with such an issue. Indeed, information shared by NerdWallet shows that credit card debt climbed to $931 billion in 2017. Given your contribution to that total, you might be considering a debt consolidation loan. Yet is that really your best course of action? 

The main causes of credit card debt

As most Tennesseans are aware, credit card debt can accumulate in a short period of time, but can take years to pay off. While the spending may have been inevitable, the price one might pay for large amounts of debt can be costly. What are the main causes of debt in America, and how do consumers address this financial blow? 

When buying becomes a burden

With the endless stream of weekly deals and the perfect products, overly frequent shopping can be all too tempting. While retail therapy can be cathartic to some degree, there can be too much of a good thing. Some Tennesseans struggle with crippling credit card debt as a result of this habit. Fortunately, there are some steps one can take to bring financial balance back to life again.

Handling credit card debt when unemployed

There is hardly a more pressing topic than financial uncertainty. Even when the picture is clear, it is easy to become lost in the sea of debt. Although Nashville has recently seen improvements in its unemployment rates, countless Tennesseans still struggle to make ends meet. 

Tips on Managing Credit Card Debt

If you’re mired in an excessive amount of credit card debt in Tennessee, you might feel like there’s no light at the end of the tunnel. However, there are steps you can take to manage your credit card debt and begin rebuilding your finances once again. The Balance offers the following tips to help you get a handle on your financial future once and for all.

The truth about minimum payment traps

When most Tennesseans think of credit card debt, medical bills or holiday shopping might be the first culprits to come to mind. However, one tricky factor at play in the wallets of many is that of minimum payment traps. Some are aware that such methods of paying off debt can be risky, but there are times when a credit trap can seriously affect an individual's wellbeing and overall quality of life.

Debt, unemployment and america's job growth

Along with the plethora of other topics under the current American spotlight, unemployment continues to be a prominent concern. Despite these concerns, recent reports show that job growth in the nation is climbing slowly, but steadily. Tennesseans dealing with the many struggles of debt understand the impact it can make on one's personal life and on a family. Could this slight increase in the country's jobs continue in the coming months?

What is the Fair Debt Collection Practices Act?

When you accept and use a credit card, your are acknowledging your responsibility as a Tennessee consumer to pay on the debt. Also part of this agreement is the right of the creditor to seek payment of the debt. However, this does not mean that a creditor can do anything they want whenever they want in order to secure payment. There are clear guidelines around the practices that are approved for use as part of a means to collect debt. It is important that you understand your rights here as a consumer to protect yourself against unfair treatment by a creditor or other debt collector.

What does the Credit CARD Act protect?

Tennessee residents who have a credit card are likely aware of the risks that come with it. Credit cards, when used or monitored improperly or recklessly, can easily lead to consumer debt. This is why the Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 was established. But just what does this act accomplish?

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

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