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May 2018 Archives

Chapter 7 versus Chapter 13: Which is best for you?

If you live in Tennessee and are thinking about filing bankruptcy as a last resort to relieve you of your overwhelming debt, you likely wonder whether Chapter 7 or Chapter 13 is your best choice. As FindLaw explains, both types of bankruptcy have their respective advantages and disadvantages, and which is best for you depends on the nature of your debt and how you wish to handle it.

Will I lose everything if I file for bankruptcy?

If you are scared about losing everything you own to a Tennessee bankruptcy, take a deep breath and prepare for some good news. Filing and eventually being approved for this type of debt relief would not cause you to lose your belongings, if you were to go about the process correctly.

Master your credit universe after bankruptcy

Many people bristle at the idea of applying for bankruptcy. Even if you end up with your house and your important assets intact, you may feel as if you will wear a scarlet letter “B” for the foreseeable future. While it is true a Tennessee Chapter 7 bankruptcy will stay on your credit report for ten years, it does not have to be the anchor that weighs you down. In fact, you can start rebuilding your credit score right away following bankruptcy.

How personal bankruptcy allows you to keep the lights on

One of the consequences of not being able to pay your Tennessee energy bills is that one day you may come home, flick on a light switch, and find your lights no longer work. Not only that, but your television and computers will not come on, your air conditioner will not cool your home and your refrigerator no longer cools your food. As it has turned out, your utility company has decided to switch off your power, leaving you in the dark and adding misery to your financial problems.

Life after bankruptcy: The top 5 things you should do

Congratulations! You completed your Tennessee bankruptcy and have your discharge papers. Now that your financial feet are on the ground, you are ready to start over financially. Based on what you learned the past few months, this time you will find it easier to establish, build and maintain your credit in a responsible way.

Ways to determine if you can file Chapter 13 bankruptcy

Anyone new to Tennessee bankruptcy proceedings is likely to be curious about whether they can qualify for Chapter 13 bankruptcy. While it is true that Chapter 13 offers the possibility of preserving assets or an entire business in the face of creditor demands, this type of bankruptcy requires specific criteria for someone to be able to file for it. A person can be disqualified for filing Chapter 13 for a number of reasons.

*We are a debt relief agency.
We help people file for bankruptcy relief under the Bankruptcy Code.