No matter the life stage, and no matter the issue at hand, countless Tennesseans face the reality of credit card debt. Many might assume that such debt can only occur as a result of shopping addictions, but these situations can often be much more complex.
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.
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?
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.
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.
For some Tennessee residents, the recession of a decade ago may feel like it has long passed. For others, however, the burden of debt may feel just as fresh as ever. Recently released data indicates that the amount of consumer debt on credit cards is on the rise.
When residents in Tennessee have lost their jobs and are still struggling with debt, the future can look bleak. However, even though it may be difficult, it possible to dig out of debt without having a job.
Consumer debt is a reality that an overwhelming number of Tennesseeans 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.
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.
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.