Looking for the best Tennessee debt relief program? Well, you’ve come to the right place. There are lots of different debt relief programs available for Tennesseans. But which one is best for you? That depends on how much debt you have and what type of debt it is. Any of our debt experts would be happy to go over your debt and find the best solution for your situation, just give us a call.
Getting out of debt doesn’t have to be difficult. It can take some time, and more importantly, dedication. But if you’re really serious about taking control of your debt, then financial freedom isn’t as far away as you think. If you’re looking for debt relief in Tennessee (TN), here’s what you need to know.
The average borrower in Tennessee has 6% less debt than the national average—$4,669, to the country’s $4,965. However, Tennesseans also have a higher than average delinquency rate, with 0.66% of debtors being overdue on payments by 90 days or more. The average credit score is lower too, at 682, to the nation’s 696. The per capita income is $26,019 per year, with 15.9% of residents living below the poverty line—somewhat higher than the national average of 12.7%.
For those who do owe money, the statute of limitations in Tennessee for all breaches of contract or open accounts is six years from the time of the delinquency. That means creditors have six years from the time of delinquency to bring suit against you. It doesn’t mean they can’t still call you after that, just that they can’t use the court system to try and collect. If you already have a judgment against you, whether in Tennessee or somewhere else, the statute is 10 years.
If you’re a Tennesee resident sick of living paycheck to paycheck and unsure of how you’re going to make ends meet due to the mountain of debt looming over you, then it’s time to take action to get that debt under control. With consolidation, you can turn all your different debts into a single monthly payment. There is also Tennessee debt settlement (or debt resolution as it’s commonly referred to). This is where professional negotiators contact your creditors on your behalf to agree on a settlement for less than what you owe.
Millions of people have experienced a negative impact on their finances due to the covid-19 pandemic. If you’ve fallen behind in payments or are about to, you might be eligible for a debt relief program to help you reduce your debt. Talk to an Americor debt specialist to see what you qualify for.
At Americor, we understand debt and how it affects you. We work with you to find a solution that meets your specific needs and helps put you on the path to living debt-free. Call our financial experts today, to find a debt relief program that works for you.