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Posts tagged "Credit Card Debt"

Removing missed payments from your credit report

Credit can be a great benefit, offering you easy access to funds in the event of an emergency in Nashville. Yet it also can lead to long-term financial difficulties if you are not able to manage it wisely. It is fine to use credit (even advantageous, in certain situations) as long as you remain committed to paying it back in a timely manner. Missed credit card payments are among the most common issues found on personal credit reports. Such negative marks can remain on a credit report for up to seven years. Many have come to us here at Rothschild & Ausbrooks, PLLC wondering if there is a way to get such issues resolved sooner. 

Dispelling the bankruptcy myths that can cause anxiety

You are probably receiving a lot of unsolicited advice from your well-meaning family, friends and associates if you discussed with them that you are thinking about filing for bankruptcy. At the law office of Rothschild & Ausbrooks, PLLC, we know that it is stressful and even frightening when you have reached the point where a personal bankruptcy is a possibility. However, you and other Tennessee residents should understand that much of the advice you have been given is outdated or simply untrue.

How to use a secured credit card to rebuild credit

People in Tennessee who have struggled with high levels of credit card debt might end up having their cards cancelled, especially if they file for bankruptcy relief. The ability to become free from the debt associated with credit cards can be immensely helpful but then it is time to turn one's attention to rebuilding credit in a positive and manageable way. A secured credit card may well offer a good first step in doing just this.

Options for eliminating credit card debt

In the world of debt, there are two primary forms that Tennessee residents should understand. The first is secured debt which is any type of debt associated with a real item that acts as collateral. Examples of secured debt include mortgages and auto loans that are connected to homes and vehicles. The other type of debt is unsecured, meaning there is no collateral associated with it. Credit card debt is perhaps the most common type of unsecured debt that plagues Americans.

Holiday spending and consumer debt

For many residents in Tennessee, the holiday season can be a bit of a mixed bag, emotionally speaking. On one hand, people love to have extra time to spend with family members that they might not get to see often or to attend fun holiday celebrations. On the other hand, there can be quite a cost to the holiday season and that cost extends beyond even the gift buying that American consumers seem unable to avoid to things like hosting parties or travelling to visit family. For people already struggling to make ends meet, this can put a big strain on their financial situation.

Credit card debt and holidays

The holiday season is in full swing and for many residents in Tennessee, that means the holiday shopping season is in full swing. Unfortunately, the desire to show someone how much they mean has become attached to dollar values and that can lead some people to overspend at this time of year. 

Using your credit card the right way can build your credit score

While building your credit score takes time and commitment to careful spending, ruining your credit and destroying your chances of getting help from lenders can happen in an instant. One of the most significant risk factors to hurting your credit is accumulating too much debt that you are unable to manage effectively. At Rothschild & Ausbrooks, PLLC, we have helped many people in Tennessee to become more educated about their options for managing debt. 

What is the Card Act?

If you are a longtime credit-card user in Nashville, you should have noticed a few changes in your billings as a result of the Credit Card Accountability and Disclosure Act, or Card Act, passed in 2009. No longer are you socked with substantial fees and interest-rate hikes for indiscretions such as making a late payment, going over the credit limit or carrying a balance on your card. In fact, there are several benefits to consumers from this law, many of which you may not be aware.

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Nashville, TN 37212

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