How To Be Debt Free in Tennessee

Downtown Nashville, Tennessee at dusk.

Tennessee entered statehood in 1796, becoming the 16th state in the nation. Throughout its early history, the slave trade played a major role in the state’s growth as a quarter of its population were slaves. In fact, Tennessee was the last state to secede from the union, hanging on to its inglorious past until 1861.

Tennessee also has a long history with cultural developments as bluegrass and country music were mainstays of the state’s upbringing, commencing with the construction of the Grande Ole Opry house in Nashville.

Tennessee went on to become a major symbol of the civil rights movement as many protests led to the passing of the Civil Rights Act of 1964 and the Voting Rights Act of 1965, giving people of color the right to finally have a voice in elections. Sadly, it was also the site of the assassination of Dr. Martin Luther King Jr. in Memphis in 1968.

Health care is a major industry in Tennessee as HCA Holdings is headquartered in the state as is shipping behemoth FedEx. In addition, mining and logging are booming industries that the state supplies.

Tourism is another major economic producer from the wonder of the Great Smoky Mountains National Park to Elvis Presley’s much-visited estate, Graceland. Other major cities include Nashville, Chattanooga and Gatlinburg.

What Is Debt in Tennessee?

Tennessee’s debt level recently reached its highest point in its history. A Nashville report showed that one of every $10 dollars was spent to pay off the state’s debt in the last year. As debt payments continue to escalate, it prevents leaders from increasing salaries for federal workers like police and even teachers. This could create a bust economy if it continues.

On the bright side, Tennessee is 44th in the nation for credit card debt with an average household level at just $6,217. In addition, with several major higher education universities in the state, Tennessee holds $27.8 billion in student loan debt.

Tennessee Debt Fast Facts

  • Population: 6.7 million
  • Median Household Income: $52,375
  • Average Credit Score: 662 (the national average is 669)
  • Average Credit Card Debt: $6,217
  • Average Student Loan Debt: $34,526
  • State Debt Total: $6.8 billion

Debt Relief Laws To Help Tennessee Citizens

Disclaimer: The information shared herein is intended to be a free resource for Tennessee consumers looking to dismiss debt and does not constitute legal advice.

Whether battling credit card debt, medical debt or private student loan debt, Tennessee has long been known for passing laws that aggressively protect its citizens and seek to dismiss debt.

If you are embroiled in a deepening debt situation in Tennessee, Resolvly can help find an expert team of seasoned debt resolution lawyers to help eliminate debt or at least dismiss debt as soon as possible.

The Fair Debt Collection Practices Act

There are many ways to get debt resolution and fight harassing debt collectors and avoid or defend a debt lawsuit. In one case, every consumer has specific rights invoking the federal laws outlined in the Fair Debt Collection Practices Act (FDCPA).

The FDCPA as it relates to Tennessee residents specifies exactly what a third-party debt collection service can and cannot do. For example, a collector can only call an individual between the local hours of 8am and 9pm. In addition, collectors cannot harass individuals or threaten a citizen with bodily harm or the potential of arrest.

Whether battling credit card debt or medical debt, Tennessee residents in debt also have the ability to stop collectors from repeat callings by sending a physical letter to the agency requesting a cease and desist from the pestering calls. If the FDCPA is violated, a debt dismissal company can find you debt defense attorneys who can help you get out of debt and also seek damages and attorney fees.

The Fair Credit Reporting Act

Another consumer protection law designed to assist Tennessee residents from false or misleading credit information is the Fair Credit Reporting Act (FCRA). The FCRA protects the privacy and accuracy of your personal credit history. If an entity violates your rights outlined in the FCRA, there are legal actions that could not only dismiss debt, but earn monetary damages in addition to the recoupment of attorneys’ fees.

Let Resolvly Find The Right Debt Relief Lawyer

When it comes to dealing with debt in Tennessee – whether medical debt or credit card debt – ignoring the problem won’t make you suddenly debt free. Utilizing the legal referral service of Resolvly, can help you hire a lawyer to get out of debt by helping you understand your specific circumstances, and clear the path to debt relief and dismissing debt.

We work with consumer protection lawyers trained in debt relief to protect your rights, fight harassing debt collectors and hopefully eliminate debt completely.

Resolvly helps you hire a lawyer to hopefully dismiss debt so that you can live debt free. Our goal is to help you attain true financial freedom and debt resolution. We offer a free consultation designed to refer you to a consumer defense attorney who will work to eliminate your debt. Simply call 844-479-3457 to speak with a debt freedom specialist who will help guide you on the path toward debt resolution so you can once again be debt free.

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