At McElroy & Associates, We Understand That Bad Things Can Happen To Good People
Get A Fresh Start Through Bankruptcy
The type of bankruptcy you file may determine how soon you could apply for a new mortgage loan. While the record remains on your credit report for up to 10 years, you may apply for certain types of mortgage loans within a few years after a discharge. A Chapter 7...
Eliminating tax debts is not as easy as debt relief company commercials make it seem. The Internal Revenue Service (IRS) or overseeing state only discharges tax debt in special circumstances. Typically, bankruptcy does not wipe out most past due taxes. However,...
You may feel overwhelmed with debt. Especially, since you faced an unexpected knee surgery last year, which also required several sessions of physical therapy afterward. You may wonder if you should consider bankruptcy. But will it wipe out the thousands you owe in...
As a single mom, you work tirelessly to support your family. Unfortunately, your job is not bringing in enough money and the bills are piling up. You do not want to have to reach out to friends and family for money. Bankruptcy is scary and not something you want to...
In Tennessee, residents have several different options when it comes to filing for bankruptcy. One popular option is Chapter 13. With all bankruptcy options, there are unique benefits and potential drawbacks. Today, we will take a look at some of both for this...
Tennessee residents who have completed Chapter 13 bankruptcy should be aware that are lenders who are looking to take advantage of people who have previously filed for bankruptcy. One of the major signs that you may not be dealing with a reputable lender is that you...
Individuals that are just about to file for Chapter 13 bankruptcy may wonder how much flexibility they will have in paying their debts. You might want to prioritize paying off a house mortgage before you want to tackle a credit card bill. While Chapter 13 can help you...
When you file for Chapter 13 bankruptcy in Tennessee, you must agree to a repayment plan. This plan outlines how much you will pay back each creditor you have. It is your obligation to repay your debts and stick to the plan as part of your bankruptcy agreement. If you...
Deciding to file for bankruptcy is not always an easy choice. Many Americans become buried beneath medical expenses, mortgages, credit card debt and other bills and run to bankruptcy as a way to find freedom from their financial stress. Part of this stress may stem...
Chapter 13 bankruptcy could be a powerful tool to restructure and limit the long-term impact of your debts. It could, in many cases, reduce financial risks, namely by limiting your creditors’ rights to repossess the property you have offered them as collateral. Even...