Bankruptcy. It is a word that often triggers thoughts of failure. But should it? There is a strong argument that this is the wrong way to look at bankruptcy. Instead of seeing it is a failure, it is important to see bankruptcy as an opportunity. How could bankruptcy...
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Preparing a Chapter 13 payment plan in Tennessee
When filing for Chapter 13 in Tennessee, you must also submit a repayment plan to the court showing how you intend to clear your debts. The amount you will pay monthly or bi-monthly will depend on your income, revenues, and expenses. Here's how you prepare to pay back...
Which assets might be exempt in a bankruptcy case?
If you file for Chapter 7 or Chapter 13 bankruptcy, there is a chance that you could lose assets such as a house, car or art collection. However, even if you do submit a bankruptcy petition to a Tennessee judge, there is no guarantee that you will actually have any...
Dischargeable debts in Chapter 7 and Chapter 13 bankruptcy
People in Tennessee who are struggling with debt might be wondering whether they should file for bankruptcy and what types of debts they would be able to discharge. Some debts cannot be discharged in any kind of bankruptcy, and Chapter 13 bankruptcy differs from...
The basics of Chapter 7 bankruptcy
Sometimes, debt becomes overwhelming, and Tennessee consumers need a way out. People who see no alternative may file bankruptcy to discharge certain debts. However, they must file the petition to start the process and meet certain criteria to qualify. How Chapter 7...
How to tell when you need to file bankruptcy
Despite their best efforts, many people have difficulty managing their debt effectively. When one past due bill gets paid off, another seems to appear out of nowhere. If your debts are weighing you down in this manner, you likely feel that giving your best effort to...
What is the automatic stay?
Facing financial trouble carries with it a significant emotional burden. Individuals worry about juggling money and which bills must go unpaid in favor of others. Families will feel the stress of sacrifice and the strain of not having enough money to get by. To make...
What is the difference between Chapter 7 and 13 bankruptcy?
Bankruptcy can help people struggling with financial debt get a clean slate and control their income and their future. Deciding on declaring bankruptcy is not the only choice an applicant will have to make; they will also need to choose which type of bankruptcy is...
Crucial steps to consider when recovering from bankruptcy
It was not easy as it took a great amount of work and sacrifice, but you got through your bankruptcy. You jumped one hurdle, but now you face many more on your way toward rebuilding your credit rating. There is no shame in filing for bankruptcy, which is often...
How do I stop creditor harassment?
If you have found yourself in debt, you are probably also experiencing the harassment of creditors. They call you during family dinner. Intimidating letters keep appearing in your mailbox. They send texts to your phone about coming to get your car. The threats and...