When Congress drafted the nation’s bankruptcy code, lawmakers created a list of exemptions that allow individuals to protect certain assets when they seek debt relief. The bankruptcy code also allows state lawmakers to create their own exemptions. In some states,...
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How diabetes contributes to medical debt
In Tennessee and other southern states, many individuals have diabetes or other chronic illnesses, with treatment costs contributing to high medical debt. A lack of adequate assistance from financial programs such as Medicaid has exacerbated the issue. The disease and...
Appeals court rejects attempt to block student loan settlement
More than 200,000 borrowers in Tennessee and around the country could soon see their student loans discharged. On March 29, the U.S. Court of Appeals for the Ninth Circuit paved the way for about $6 billion in student loans to be forgiven when it denied a request from...
Filing Chapter 7 bankruptcy
Memphis residents can consider filing for Chapter 7 bankruptcy when their debts become overwhelming. This type of bankruptcy wipes out several forms of debt, including medical bills and credit card debt. People choose this type of bankruptcy because it offers a fresh...
Understanding credit repair
According to studies, approximately 68 million Americans deal with bad or poor credit. For Tennessee residents with poor credit, buying a home, purchasing a vehicle, and various other tasks become impossible. Fortunately, credit repair options allow those with poor...
How your credit score is affected after bankruptcy
Many Mississippi residents seek debt relief through bankruptcy. Bankruptcy is a legal process that relieves an individual of all or most of their financial debt obligations. Filing bankruptcy lessens stress over money, bills and constant creditor calls, but it also...
How does bankruptcy affect your credit report?
Bankruptcy is a legal process that allows people or businesses who cannot pay their debts to get a fresh start by liquidating their assets and using the proceeds to pay off creditors. If you are considering filing for bankruptcy in Tennessee, you should first...
Bankruptcy, debt and mental stress
Dealing with mounting debt could leave Tennessee consumers struggling to survive financially. Although some may approach things somberly, others may start to suffer from anxiety and depression. Such psychological stress seems understandable, as many never expected to...
Overview of the Chapter 7 means test
Tennessee consumers may file bankruptcy if they see no way to pay their debts. Many consumers choose Chapter 7, which requires selling assets. However, they must pass a means test to qualify. How the means test works Congress made the means test part of the Bankruptcy...
How to identify scam collection agencies
If you're in debt, you may get calls from third-party collection agencies. However, not all of these companies are honest, whether they are located in Arkansas or elsewhere. You should know the possible signs of a debt collection scam. Signs of a possible scam A debt...