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Debt Relief Archives

Parents burdened by debt can teach valuable lessons to children

As children in Tennessee return to school, they will learn many lessons. These lessons do not always take place in the classroom, but also on the playground and at home. Parents often wish to take advantage of their children's receptivity to learning by instructing them in important life issues, like managing money. Some parents do this because they have had their own struggles with finances, and they want to spare their children the anxiety of living burdened by debt.

People seek debt relief when collection calls overwhelm

For some who are burdened with debt, constant calls from debt collectors may seem  like a way of life. These calls may cause people to stop answering their phones altogether, assuming that the ringing of the phone can never be good news. People in Tennessee who feel overwhelmed may begin to look at options for debt relief.

Dealing with debt relief

Debt can sneak up on an individual or a family. In Tennessee and other states, debt relief is a necessary service when a household finds itself handling interminable debt. Thankfully, there are many ways to find relief from pressing financial obligations. Among them, a Chapter 7 bankruptcy filing can be used to forgive outstanding debt. 

Debt relief companies should be approached carefully

Despite consistent legislation aimed at curbing the practice, so-called debt settlement firms continue to prey upon the precarious position of Americans facing steep debt. Tennessee residents are doubtless aware of these alleged debt relief companies that promise quick and easy answers to complex debt issues. Some experts warn that not all is as it seems when it comes to many of these companies, and they should be treated with a degree of caution. This is particularly so because other, more reliable options -- including debt consolidation and bankruptcy relief -- are available to support those in need.

Bankruptcy protection for student loans: a new possibility

Tennessee readers will note that, according to the current version of the U.S. Bankruptcy Code, student loans are not eligible for bankruptcy protection. However, with the amount of student loan debt rising, Congress is considering a proposal for altering that law. This would offer a financial reprieve for graduates who find themselves unable to maintain timely payments on student loans after graduation.

Avoid creditor actions and possibly obtain relief with bankruptcy

When a person is faced with debt problems and wants to get out of debt, he or she must be willing to actually do what it takes to resolve those debt issues. In order to avoid creditor actions, a person may need to file for bankruptcy. However, before it comes to that point, there may be a couple of things that can be done for Tennessee residents.

Burdened by debt, students search for debt relief options

Students across the country, including in Tennessee, often graduate burdened with debt related to their students loans. Student loans are not uncommon, but many of these graduates either have no idea how to handle this debt once they begin to earn an income, or simply do not earn enough in this economy to keep up with their payments. Burdened by debt, students enter the workforce barely able to afford basic living expenses in addition to high loan payments each month.

Don't be afraid; financial advice may help obtain debt relief

When someone is dealing with financial troubles, the situation generally will not improve until action is taken. Unfortunately, some people fear taking action and seeking help from a financial expert. For some, this relates back to money. Almost half of all Americans feel that they can't afford financial advice that could potentially allow them to obtain debt relief. The truth of the matter is that there are places where Tennessee residents can actually get financial advice for free.

Americans struggling with student loans, debt relief procurable

Not all Tennessee residents decide to pursue a professional degree after they graduate high school. However, for those who do, it isn't uncommon for them to take out student loans in order to pay for their schooling costs. Unfortunately, this can often lead to a huge accrual of student loan debt, which some may find it difficult to repay. This can be especially true if one is trying to obtain debt relief from other accumulated debt, such as from credit cards.

Tennessee residents may be burdened by debt after divorce

Though married couples can have their shares of financial issues, those who go through divorce may find that those problems can increase as they step into their single lives. Because divorce can lead to significant life changes, becoming burdened by debt is a relatively common situation for many divorced Tennessee residents. Unfortunately for some, these issues may come about unexpectedly.

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