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Credit Card Debt Archives

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?

Holiday debt and stress trends

Like their counterparts around the nation, many residents in Tennessee feel an increase in their levels of stress during the holidays. This is not because of the potentially frantic pace of life as they rush from one holiday celebration to another so much as it is about the financial impact of this season. Even with a relatively booming economy, consumers everywhere continue to feel the tightening of the purse strings and wonder how they can afford all of the extras that become associated with the holidays.

How can you take care of delinquent payments?

Tennessee residents with delinquent payments have a credit card account that's past due. This will not only have a large impact on your overall credit score, but it can lead to serious harassment by creditors. If you're dealing with delinquent payments while trying to overcome creditor harassment, there are ways for you to get the help you need and get back on track.

The stress of consumer debt

Consumer debt is a reality thatĀ an overwhelming number of TennesseeansĀ endure for months, years and even decades. While each person's story is unique, there remains the common theme that, at some point or another, finances simply got out of hand. Because this issue is so common, there are multiple possible solutions; however, certain mental issues can also arise when the stress of owing becomes too much to handle.

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.

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

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