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Credit Card Debt Archives

When shopping sprees turn into a shopping addiction

Most consumers are familiar with the term "retail therapy." Online shopping has allowed this hobby to become even more prevalent in the homes of millions of shoppers. The satisfaction of picking up a new television or a flattering new pair of shoes is evident, but can a shopping spree go too far? Some Tennesseans experience trouble in drawing the line when it comes to shopping. While the financial risks of such spending can certainly come with crippling costs, some experts point toward warning signs that indicate when harmless shopping becomes a psychological dependence.

Declaring bankruptcy as a result of student debt

Receiving a higher education has long been idolized as a direct path to success. However, student loan debt is a topic that now overwhelms millions of Americans, and can even overshadow dreams of intellectual and financial prosperity. As the issue only moves further into the public eye, financial experts are debating the best ways to manage debt. Tennessee is home to thousands of graduates who struggle to make ends meet as a result of crippling student loan payment obligations.

Common obstacles of personal debt

Millions of Americans live with personal debt of some kind, and regardless of whether that debt is due to student loans, medical bills or other expenses, it can become crippling. Tennesseeans are not exempt from this problem, as countless residents struggle to make ends meet due to accumulation of debt. While personal financial matters are usually complex, has the issue trickled into other aspects of life?

Student loan debt: is there a solution?

By now, most Americans are aware of the issue of student loan debt. This nationwide problem is often masked by the appeal of college and the opportunities promised upon earning a degree. Although the advantages of acquiring higher-level education are evident, more graduates experience stress due to loan debt than ever before. Many Tennesseeans wonder about the outlook of this situation, and if relief from student loans is possible in the near future.

Missing credit card payments has steep consequences

People who are struggling with debt in Nashville may sometimes feel like they are forced to choose between which outstanding bills to pay each month. Things like housing and food are necessary for survival and will always take precedent over other kinds of debt. However, consumers should be aware that skipping even a single credit card payment can have serious consequences. Therefore, meeting the problem head on will likely lead to better results than ignoring it and hoping that it goes away.

Tips for negotiating credit card debt

Whether it is for once in a while splurges or for everyday essentials, spending is easy when there is a little piece of plastic in one's wallet. However, paying off those balances is not always easy for everyone in Nashville. When the payments become overwhelming, many people do not know what to do. However, one simple solution that is easily overlooked is to simply call the credit card company and ask for help.

Tennessee's debt laws and debtors' rights

Millions of Americans live with credit card debt, but few know how to fully climb out of it. Nashville, like other states, is home to thousands of families who, especially after the 2008 Housing Crisis, struggle to pay for basic necessities such as the montly mortgage, bills and even food -- largely because of debt. Of course, there are a number of other ways one can accumulate unpaid credit card bills, but many individuals experience creditor harassment and subsequent legal action for failure to pay off debt.

Should I apply for a new credit card post-bankruptcy?

For many people in Nashville who file for bankruptcy, credit card balances were a big factor in contributing to their debt. Therefore, you may feel understandably wary of using a credit card again once your bankruptcy has been discharged. However, you may still qualify for one and be able to use it responsibly to rebuild your credit if you keep a few things in mind.

Are there any downsides to consolidating my debt?

If you live in Nashville and have a lot of credit card debt, it may seem like paying off your accounts is a hopeless situation. While there are a number of solutions available, a popular one that many people turn to is debt consolidation. While this option can be beneficial and save you money over time, there is one huge downside. Consolidating your existing debt does not fix your financial situation, nor does it stop you from incurring more debt on top of the new loan.

Credit card basics: what every consumer should know

Credit cards are widely available these days to anyone who lives in the Nashville area. While millions of people use their credit cards frequently, not everyone has a full understanding of how they work. Credit card use has been on the rise over the last several years, reports CNBC. Credit accounts have reached over $1 trillion, making it a significant part of the debt load held by households throughout the country. Whether just starting out using credit or recovering from past financial struggles, having some basic knowledge about how credit card companies function can go a long way toward preventing future trouble.

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

Toll Free: 866-656-8909
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