For months, you weighed the positives and negatives of filing for personal bankruptcy. One of your biggest fears is how others will view you. You suspect that you will be harshly judged. But the first psychological step you must take is to erase that thought from your...
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What you need to know about Chapter 7 means test in Tennessee
When you apply for Chapter 7 bankruptcy in Tennessee, the court must determine if you are capable of paying back your creditors. So they will conduct a test known as a "means test," which, if you pass, you'll be able to clear your debt through the Chapter 7 bankruptcy...
What is a bankruptcy certificate, and why is it needed?
Many Tennessee consumers have misconceptions about bankruptcy and view it as something negative. However, it can help when you’re struggling with sizable debt. When you want to file, you need a bankruptcy certificate. The bankruptcy certificate explained A bankruptcy...
What to know about the automatic stay
When you file for bankruptcy in Tennessee, you will receive an automatic stay of creditor collection activities. As a general rule, this means that your creditors cannot contact you about a debt, proceed with a lawsuit or foreclose on your home. The stay typically...
Two reasons bankruptcy is an opportunity for success
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...
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...