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...
At McElroy & Associates, We Understand That Bad Things Can Happen To Good People
Get A Fresh Start Through Bankruptcy
blog
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...
Troubling bankruptcy myths
Memphis consumers whose financial situation becomes dire might think about filing for bankruptcy. Federal bankruptcy statutes allow Tennessee debtors to put at least a temporary halt to collection activities. Unfortunately, many would-be filers prescribe to false...
How to refinance after consumer bankruptcy
Refinancing your home in Tennessee after you have gone through bankruptcy is possible. You may have to meet certain conditions to apply for a refinance, depending on the lender. Eligibility for refinancing The type of loan you have influences how long after the...
Getting a mortgage after bankruptcy or foreclosure
If you lost your last Tennessee home to foreclosure, it can be significantly harder to get a mortgage. Getting a home loan can also be difficult if you have a bankruptcy on your credit report. Fortunately, it may still be possible to get a home loan even if you have...
Chapter 13 bankruptcy and why it sometimes fails
A common kind of bankruptcy that some consumers file in Arkansas to remove debt is Chapter 13. However, data shows that two out of three Chapter 13 cases fail for many reasons. How Chapter 13 works Chapter 13 bankruptcy helps the consumer pay back secured debts, such...
Your medical debt may be removed
Do you have a lot of medical debt in Tennessee? If so, you may be interested in a new national initiative by the three major credit reporting agencies. If the move is successful, it may wipe up to 70% of debt off of consumer credit reports. This is a major...