Jimmy E. McElroy & Associates
Dedicated to Helping People in Financial Distress
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August 2018 Archives

Famous financial troubles past and present

There are plenty of stories of people who filed for bankruptcy, only to bounce back later to greater success. For many, the process is an opportunity to gain insight into debt management strategies and plan for the future. In fact, some famous Tennessee figures are currently facing financial challenges.

Helping our community thrive

At Jimmy E. McElroy & Associates, we are proud of the work we do — and we like to think of it as more than just helping people file for bankruptcy. Just like our clients, we are members of the community we serve. Our primary goal is to help our Tennessee neighbors who might have overextended their finances to get back on their feet and back to pursuing their dreams. 

Chapter 13 filers should beware predatory lenders

Many people who file Chapter 13 bankruptcy fear they will not be able to successfully apply for a loan, or that they will only find lenders that require such high fees that it is not feasible to apply for financing. So when bankruptcy filers find a Tennessee lender who is not interested in their past credit history, it seems like they have found the answer to their problems. However, a lender who does not ask you about your past debt history may actually be bad news.

How can I stop a utility company from turning the lights off?

One option you might have to stop electricity, gas and water companies from discontinuing your service is to file for bankruptcy. This could give you a type of protection that is similar in concept to the automatic stay: the part of bankruptcy that could have the power to stop creditors from harassing you.

Differences between personal and business bankruptcy

The recent decision involving national toy retailer Toys 'R' Us which led to a widespread store closure has generated some interest in the media about the bankruptcy process. As an individual facing bankruptcy in Tennessee, this could lead to confusion and even misinformation. 

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