When struggling with debt, it is smart to look for a solution. But it is necessary to be cautious about debt-relief companies. Working with a debt-settlement company can leave you in an even worse situation than before.
In Tennessee, residents have several different options when it comes to filing for bankruptcy. One popular option is Chapter 13. With all bankruptcy options, there are unique benefits and potential drawbacks. Today, we will take a look at some of both for this specific type.
As a Tennessee resident who is getting hounded by creditors or debt collectors, you may be feeling as if you are at your wit’s end. Receiving seemingly constant communications from creditors can prove anxiety-inducing at best, and you may be wondering whether bankruptcy’s “automatic stay” could potentially grant you some temporary relief.
In Tennessee, there are a number of debt relief options available. However, bankruptcy is one of the most official. This process uses the courts, so you would be safe from many of the less scrupulous organizations that may claim to help debtors.
For many people, filing for Chapter 7 bankruptcy is the only way to get their finances back in order. What many people fail to realize before filing is that the oncoming proceedings are a lot more complicated than they expect. For example, many fail to realize there is a meeting of creditors they must attend.