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...
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Chapter 13 Bankruptcy
Seeking a loan during Chapter 13 bankruptcy
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...
Taking on new debt during a Chapter 13 bankruptcy
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...
Buying a house during Chapter 13
Filing for Chapter 13 bankruptcy may put an end to creditor calls, wage garnishments and other negative effects of falling behind on your bills. However, it may also complicate the process of buying a home. Although you can purchase a home in Tennessee while your case...
What is a cramdown in a Chapter 13 bankruptcy?
When Tennessee consumers file Chapter 13 bankruptcies, they pay down their debts by making monthly payments for three or five years. When one of those debts is secured by a car, boat or other asset, they can include what is known as a cramdown in their Chapter 13...
Common indicators showing that you should file for bankruptcy
Many Tennessee residents have money issues and end up falling into debt. This can lead to a slew of problems that can overtake your daily life. These are common signs that it’s time to file for bankruptcy to alleviate your financial burdens. You’re struggling to pay...
Will I lose my car if I file for bankruptcy?
If you have considered filing for bankruptcy in Tennessee, you may wonder what may happen to your car after you do so. Depending on the type of bankruptcy you choose, you may not have to surrender your vehicle so you will maintain a steady means of transportation. The...
Why you should not pay off Chapter 13 bankruptcy plans early
Bankruptcy allows people to seek relief from large amounts of debt. If you're going through Chapter 13 bankruptcy in Tennessee, it's understandable to want this burden off your shoulders right away. That said, paying off your bankruptcy plan might not be as smart as...
Getting behind on Chapter 13 bankruptcy payments
Approximately 5.17 people out of 1,000 files for bankruptcy in Tennessee, double the national average. Many of these individuals file for Chapter 13 bankruptcy because it lets them keep their assets while getting caught up on payments. While most people make timely...
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...