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Controlling credit card debt through bankruptcy

A previous post on this blog discussed how easily Bradley County, Tennessee residents can find themselves struggling against mounting credit card debt. As the previous post mentioned, problems with credit debt do not just afflict people who have difficulty with overspending on pleasure items.

Credit card debt reaches record levels

Credit card debt in the United States is on the rise again, and Americans have even broken their previous record, set in 2008, of $1.02 trillion in revolving debt, which includes credit card debt and other charge accounts. The new record, set in early August, is $1.021 trillion in credit card debt.

Before signing up for the credit card promo, check the fine print

Many residents of Bradley County no doubt go shopping in Cleveland or in nearby Chattanooga. When they get to the checkout line, they may be offered a store credit card that includes a discount or a wonderful deal too hard to pass up. Others may get special offers through the mail promising rebates, travel miles or special benefits.

Options to help with medical debt and credit card debt

For individuals who are struggling with medical debt and oftentimes related credit card debt, there may be options to consider to help enjoy a fresh financial start and be free of the stress associated with overwhelming debt. Sometimes a vicious cycle of medical debt and credit card debt can lead to falling behind in medical bills and credit card bills.

Actor sued over overwhelming credit card debt

Though Tennessee residents may recognize him from a string of successful sitcoms and his starring roles in some big budget Hollywood films, Charlie Sheen has recently been in the news for a slew of reasons unrelated to his acting. News about his health has made headlines, as have his struggles with his former wives. Recently, however, Sheen was back in the news for yet another unfortunate reason -- he is being sued for carrying excessive credit card debt.

Will my credit card company punish me for carrying debt?

Credit card debt occurs when an individual fails to pay off the person's balance in full and carries over owed money to subsequent credit card bills. When a person cannot pay down this credit card debt it can become a difficult financial obligation to manage. One way that Tennessee residents can avoid the wrath of credit card companies and their debt collection practices is to understand how those companies will pursue their borrowers' debts as stipulated in their credit card agreements.

Don't let credit card debt become a lingering burden

There comes a time in many people's lives when they receive bills they are not prepared to pay. For individuals living throughout Cleveland, those bills can be for medical services, educational tuition, mortgage payments, or credit card balances. While many lenders will work with borrowers to help them pay down their debts, in some situations individuals may choose to try to manage their debts on their own without any assistance.

Credit cards in the aftermath of bankruptcy

There are likely to be many people among our readers in Tennessee who have heard nothing but the "negative" aspects of filing for bankruptcy: that they'll lose their home, be humiliated when their friends and family find out, and their credit will take a hit that they won't be able to recover from. However, these negative aspects are often exaggerated. The fact is that filing for bankruptcy is a legal method of confronting an untenable debt situation, and in many cases the problems are caused by overwhelming credit card debt.

Americans have varying perceptions about credit card debt

The United States is a large country and its different regions offer individuals different cultures and social climates. For example, the East Coast is often believed to be more fast-paced than the West Coast, which carries with it perceptions of laid-back living. The Midwest and its residents have a reputation for being friendly, and the South is known for its hospitality and charm. What readers of this Tennessee bankruptcy law blog may not know is that these regional attitudes are not only applicable toward style of living but also to how people feel about money and debts.

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