At McElroy & Associates, We Understand That Bad Things Can Happen To Good People
Get A Fresh Start Through Bankruptcy
Debt is a double-edged sword because while it can be useful when you need access to resources that aren’t immediately available otherwise, you’ll eventually need to pay it off to build net worth. If you’re unable to clear your debt for whatever reason, you can end up...
When your lender files for foreclosure, you may believe that you’re going to lose your home, but you’re seeking anything you can do to prevent it. This could be because the home is very important for you and your family, so it’s your main priority. It could also be...
Credit cards are very convenient financial tools. They allow people to spend money that they do not yet have based on the income they generate or the assets they own. Lenders charge a premium interest rate in many cases for these revolving lines of credit. However, so...
There are federal laws limiting the activity of collection professionals. The rules include restrictions on times during which it is inappropriate to call, the right of workers to refuse calls on the job and limitations on how collection professionals speak to...
Inflation has proven difficult for many consumers in Tennessee to overcome. Rising costs for essentials weaken people's ability to cope with unexpected costs, like a medical emergency or broken vehicle. In these situations, you might overdraw your bank account when...
People file for bankruptcy in federal courts across the United States. Statistics show a significant number of bankruptcy filings in Tennessee, leading some to wonder why. Understanding the reasons for bankruptcy helps some make decisions that could prevent debt...
Many Tennessee residents who are facing insurmountable debts choose to file for Chapter 13 bankruptcy. This requires the creation of a proposed repayment plan, which has to be submitted within 15 days of filing the petition. Budget The first step in creating a Chapter...
Chapter 13 bankruptcy might be appropriate for Tennessee debtors struggling to overcome their financial obligations. Once someone files for Chapter 13 and the bankruptcy court approves the required plan, collection action ceases, and the debtor might attempt to resume...
Tennessee residents who file Chapter 13 bankruptcies pay down their debts by making monthly payments for three or five years. Once they have made all of their required monthly payments, they receive a document that states the remaining balances on eligible debts will...
An increasingly common scenario in the United States is people older than 50 still owing on their student loan balances. This has shown itself to be a major issue not just on the individual level, but for the nation and society. It's become clearer than ever that it's...