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April 2015 Archives

Wiping out credit card debt with a Debt Management Plan

Managing finances can be frustrating for many Tennessee residents. Some people have to spend more money than they make, due to low-paying jobs or unexpected expenses, and others simply aren't good with money. These situations can cause significant credit card debt. The first step to managing debt is seeking assistance from a credit counselor. When this doesn't work, many consumers may consider a Debt Management Plan (DMP.) Read on to learn more about this option.

Customers upset as store files for Chapter 7 without notice

Tennessee residents who recently paid for items at the specialty store Professional Appliance Direct may be out of luck. The Johnson City appliance supplier abruptly filed for Chapter 7 bankruptcy on April 3 without notifying customers - homeowners who have already paid for their appliances in advance. Now many residents are without their appliances and their money and have filed police reports against the store.

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.

CARD Act protects those struggling with credit card debt

Many Tennesseans struggle with paying their monthly credit card payments. To make matters worse, some credit card companies take advantage of this situation and raise annual percentage rates and fees, driving consumers further into credit card debt. In 2009, the Credit Card Accountability, Responsibility and Disclosure Act came into effect to protect consumers who are in this situation.

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