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Credit Card Debt Archives

Avoid these traps when paying off holiday debt

Your guests have barely left the house and the tree won't be taken down for another week, but you may already be dreading that first post-holiday credit card bill. If this sounds like you, you're not alone. As we noted recently, many of us are all too willing to spend money on our loved ones, but of course pulling out the credit card is much easier than making the payments.

Older debts might show up again later

What can happen if a debt collection agency tries to recover an old debt? Is there a time limit after which creditors can no longer go after Tennessee residents? According to The Consumer Financial Protection Bureau, debt collectors usually have a statute of limitations of two years – sometimes longer – before they are no longer allowed to sue for an older debt.

Managing credit card debt in a healthy way

The holidays are here and this means that retailers and other companies are offering huge sales to entice people in Davidson to spend money. Often, people will put these purchases on their credit card in order to grant gift wishes their children, friends or family members have. However, using plastic to buy things must be done with great care.

What should you put in a cease harassment letter?

If you are receiving harassing phone calls from credit collectors, one option you have is to write a cease and desist letter. This essentially tells the creditor to stop contacting you, but it is important to include certain information within the letter for it to be effective.

Should you accept that debt balance transfer offer?

You see them all the time – offers that arrive in the mail from a credit card company that offer you a zero percent interest if you transfer your current credit card debt to a new card. The offer is a tempting one and causes you to think about the freedom it could offer you. However, is this offer really as good as it seems?

4 reasons you shouldn't borrow from retirement to pay off debt

If you constantly struggle to pay your bills only to fall further behind each month, it's natural to feel a little desperate. In your search for a solution, you may have considered tapping into your 401K to get those creditors off your back. Retirement fund loans usually come with a five-year payback schedule and a low interest rate.

How does filing for bankruptcy impact your credit card debt?

Like many in Nashville, and throughout Tennessee, you may have credit card debt. Whether these debts are due to overspending, an unexpected situation or emergency, or any other number of factors, you may have considered filing for bankruptcy. At Rothschild & Ausbrooks, PLLC, people often ask us about the effect of bankruptcy on credit card debts. In this post, we will comment on how credit card debts are handled during bankruptcy cases.

Questions to ask about bankruptcy

The process of getting unburied from mounds of credit card bills and other debt, especially in the face of ongoing creditor harassment, can be daunting for many Tennessee residents. If you are like many other consumers, you may feel unsure of where to turn for help and what your options are. Filing for bankruptcy can be one avenue to consider when you need help to find a way to a better financial future.

When does debt collection become harassment?

If you are like many people in Tennessee, and elsewhere, who are struggling with credit card debt, then debt collectors have likely contacted you. While it is the job of these agencies to get you to pay the amounts owed on your accounts, there are limits to the methods they can use. The Fair Debt Collection Practices Act, or FDCPA, prohibits certain collection practices, which are considered abusive, deceptive or unfair.

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

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