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Posts tagged "financial challenges"

Dealing with bankruptcy in the midst of a divorce


Bankruptcy often happens during one of life's most expensive actions: divorce. As Tennessee couples end their marriage and split assets, they may find it extremely challenging to go from two incomes to one while still trying to maintain a household. They may find themselves facing financial challenges while having to worry about common divorce legal issues such as child support and alimony. While divorce and bankruptcy at the same time may seem too overwhelming for someone to take on, a bankruptcy can provide many benefits if debt is becoming too much to bear.

I have a lot of credit card debt. What are my rights as a debtor?


Economic struggles can cause Tennessee consumers to experience financial challenges. Reduced income can make it difficult to stay on top of credit card payments. This can lead to creditor harassment, which cannot only be embarrassing, but annoying as well. Creditors may try to do some shady things - such as making threats or calling in the middle of the night - but despite your situation, you do have rights as a debtor. There are some things creditors can and cannot do to get you to pay your credit card debt.

Home ownership can still be a reality after bankruptcy

Bankruptcy can leave a derogatory mark on one's credit score 10 years, but that doesn't mean that Tennessee residents that have filed to escape their debt have to wait a decade in order to purchase a home. Home ownership is possible a few years after a bankruptcy, but only if a consumer is dedicated enough to properly plan, save and budget his or her money in order to prevent future financial challenges from occurring. Here are some tips for buying a home after bankruptcy.

Going through bankruptcy? Stop repossession of assets


In recent years, many Tennesseans have faced unemployment and other financial challenges. When this goes on for an extended period of time, it can force a person to file for bankruptcy. When a person is behind on vehicle payments, the next step is repossession. Nobody wants their car taken away, but fortunately, with quick action, there are ways to stop repossession and keep your car, TV, computer, appliances and other valuable possessions.

Stop foreclosure even during bankruptcy


Financial challenges can force Tennessee residents to file for bankruptcy. The decision to file for bankruptcy should be made very carefully because while you'll be able to eliminate debt quickly, you'll likely have to part with your assets, especially your most important one - your home. Fortunately, we can help you keep your home - even up to the last minute - before it is sold in a foreclosure auction.

Mistakes to avoid if using balance transfers for credit card debt


Many Tennessee consumers are facing financial challenges; just check the amount of credit card debt they carry. It's not uncommon for many to pay interest rates of 20 percent or more, making it difficult to pay down these debts. So when a tempting balance transfer offer comes along -- offering 0 percent interest for 6, 12 or even 18 months -- it's hard to say no. Although a balance transfer can offer benefits, it can also have an opposite effect and cause a consumer to sink even deeper into credit card debt. Find out which mistakes to avoid in order to use such an offer to one's advantage.

Manage credit card debt in 2015 with these tips


Now that the holidays have come and gone, Tennessee residents may be feeling the pinch financially. Christmas spending, along with unemployment, medical expenses and other financial challenges in 2014 may have left their credit cards maxed out. Resolve to pay off credit card debt this year with these tips.

I have numerous debts. Should I pay off credit card debt first?


When faced with unemployment or other financial challenges, Tennessee consumers may be unable to pay all their bills on time. This means they are forced to choose which debts are most important and which can wait. However, once a debt becomes 30 days late, consumers may be faced with harassing phone calls from creditors. They may also face foreclosure on their home or repossession of their car. With so many debts, which ones do you pay first?

Situations that could warrant a bankruptcy


Bankruptcy is a situation that can befall anyone. Even some of the biggest celebrities have struggled with money issues. Although a bankruptcy is beneficial for Tennessee residents with mountains of debt, such a process should not be taken lightly. One may wonder what situations warrant a bankruptcy.

Starting over financially after Chapter 13 bankruptcy


It's rare that a Tennessee consumer would be enthusiastic about filing for bankruptcy, but when facing enormous financial challenges, it is often the only way out of debt. Although many consumers are embarrassed to talk about their bankruptcy with others, it's not the end of the world. In fact, many people buy cars, open new lines of credit and even purchase houses a few years after filing for Chapter 13 bankruptcy. Although it won't happen overnight, it could happen sooner than one might think by getting back to basics.