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...
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Chapter 13 Bankruptcy
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...
A look at repayment plans for Chapter 13 Bankruptcy
Residents of Tennessee and Arkansas considering Chapter 13 bankruptcy should take a few moments to examine how the repayment plan works. Chapter 13 is a debt restructuring plan that allows people to repay their current debts at a fixed monthly price without fear of...
Proofs of claim in a Chapter 13 bankruptcy case
When Chapter 13 bankruptcy petitions are submitted in Tennessee and around the country, creditors seeking payment file what are known as proofs of claim with the bankruptcy court involved. These are legal documents that state how much money the creditor is owed....
Determining payments in Chapter 13
Chapter 13 bankruptcy involves establishing a payment plan to settle debts. Each month, the Tennessee debtor must make the required payments over three to five years. Several factors determine how much the monthly amount is. Monthly payment amounts A colloquial term...
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...
Can you file for bankruptcy to alleviate medical debt?
financial worries can afflict any Tennessee consumer. If you have had an unexpected medical crisis, you could be left with significant debt. You might wonder if you can file for bankruptcy to alleviate your medical bills. Can you discharge medical debt in bankruptcy?...
What to know about Chapter 13 bankruptcy
If you are struggling to pay your bills, it may make sense to file for Chapter 13 bankruptcy. Each month, you make payments to your creditors per the terms of a repayment plan that is submitted to a Tennessee judge as part of the bankruptcy petition process. Let's...
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...
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...