If you were to take a survey to determine how many Tennessee residents have faced serious financial challenges in the past five years, you may be surprised at the high number that would likely result. Even the slightest unexpected life change can throw your finances out of whack. The key to overcoming such problems often lies in how much you know ahead of time about various debt relief options that may be available in a particular situation.
Whether you are approaching retirement or have already retired, you likely understand that your income will become fixed in a way that can make it more difficult to obtain extra funds in the event that you need them.
Your financial situation is a mess. You have mountains of unpaid bills and creditors calling, and you have likely lost sleep due to the stress your financial instability has caused. You may feel that you have become the sole survivor of a sinking ship, but you are not alone when it comes to dealing with debt problems. Numerous people across the country face similar circumstances, but while this idea may seem somewhat comforting, it does not necessarily help you deal with your money problems.
Tennessee is by no means isolated from the tremendous economic fluctuation the rest of the nation has experienced in the past couple of decades. If you consider your lifestyle one of average means, you likely have good and bad times concerning finances. Perhaps you're one of the lucky ones who received a raise in pay this year. On the other hand, maybe the extra financial breathing room proved short-lived when unexpected health problems arose.
Constantly dealing with an overwhelming amount of debt can leave you suffering from a lesser quality of life for extended periods. Unfortunately, financial hardships are a concern for many individuals, and while you may take comfort in the fact you aren't alone in this struggle, this knowledge may do little to rectify your situation.
You got the news no one wants to hear from their doctor -- you have cancer. After the initial shock, you learned all about it and what your treatment options were. You picked a course of action and started acting. Now, not too long after starting treatment, you learn your insurance isn't as helpful as you had hoped and you are facing some serious debt if you continue treatment. Sound like your life? It certainly is the reality for a number of Tennessee residents.
Tennessee readers know that many people who go to college leave with student loan debt. With the rising cost of tuition, room, board and textbooks, most people are unable to manage the cost of college on their own, and student loans often seem like the answer. The result is a crisis — thousands of graduates with significant debt burdens they are unable to manage on their own.
Tennessee is one of several hot spot states for tourism and is also often seen as a prime retirement location. You may be one of many who own or rent a condominium somewhere in this state. Many people love condo living because it usually means someone else is responsible for major maintenance and upkeep.
You may be one of many in Tennessee currently facing serious financial problems. Although your situation may be somewhat similar to another person's, the causal factors that led to your financial crisis may be different. Some people are simply not good at handling their money. Many have shopping addictions and tend to spend more than they earn. Others get hit with unforeseen expenses they are completely unprepared to meet, such as major medical bills or credit card debt that adds up after losing a job.
As similes go, you might say that finances are like ocean tides in that they both have constant ebbs and flows, right? If you think back on your financial history, you likely recall times when you were really on top of your finances and other times when you wondered how to make ends meet. Perhaps there were even times somewhere in between.