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Credit Card Debt Archives

Credit cards and interest rate details

People in Tennessee who may have struggled with credit card debt know that trying to understand the various terms and conditions associated with these accounts can be very difficult. In fact, for some people, a lack of full understanding about how interest or fees are calculated and assessed may actually contribute to making one's debt problems worse. Therefore, it is important to be educated about these things to prevent further problems.

How secured credit cards help after bankruptcy

If you are one of the many residents in Tennessee who has struggled with high revolving credit card debt, you know the level of stress that can cause. You might be afraid to get your mail or email or to answer your phone due to fears that creditors are trying to get you to pay your bills that you are unable to pay. If you are thinking about bankruptcy as an alternative to help you get out from under this mound of debt, you may be then concerned about if you could ever get credit again.

What are the penalties for missed credit card payments?

The prevalence of consumer debt in America may prompt you to believe that you should avoid having credit cards altogether. Yet financial experts in Nashville do not typically discourage having credit cards (on the contrary, many actually recommend holding three or four for the credit benefits they offer alone). However, proper management is the key to enjoying the benefits that credit cards can provide. Yet there may come a time when funds are tight, and you may think that missing a monthly payment (with the intention of making it up the following month) is fine. This, however, prompts the question of what penalties a credit provider is allowed to assess for missed payments? 

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?

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

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