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...
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Chapter 7 Bankruptcy
Knowing the tests used to discharge student loans can be helpful
Handling several bills at the same time can become challenging. If you have debts piling up in Arkansas or Tennessee, you may want to consider filing bankruptcy. Learning more about the process is essential if you have student loans that you'd like to have discharged....
How Chapter 7 and Chapter 13 bankruptcy differ
If you are struggling with debt as a Tennessee consumer, you might wonder whether filing for bankruptcy is the right choice. Before you decide, it can be helpful to understand the difference in Chapter 7 and Chapter 13 bankruptcy so that you will know what to expect...
The differences between Chapter 7 and 13 bankruptcy
Memphis residents who are thinking about filing for bankruptcy have several key decisions to make. However, the biggest decision may be whether to file for Chapter 7 or Chapter 13 protection. Let's take a look at the key differences between these two options and how...
Bankruptcy and the automatic stay
Memphis consumers who become overwhelmed by debt often wait a long time to file for bankruptcy. It’s common for people to take on more debt to repay existing obligations and even let some of their accounts go into collections before they seek help. The result of these...
The Chapter 7 bankruptcy means test
People in Tennessee that are having serious problems managing their debt may decide to file for personal bankruptcy. Chapter 7 bankruptcy may wipe out most of a debtor’s consumer debts so that they can get a fresh start. However, the bankruptcy court will only approve...
What happens to Social Security benefits in bankruptcy?
Filing for bankruptcy can be a difficult decision for many Memphis-area residents, and especially when part of the household income is Social Security benefits. There are many people in the region who are apprehensive about actually filing for protection from...
How may a Chapter 7 bankruptcy affect keeping my car?
A Chapter 7 bankruptcy may not require you to give up your vehicle, even while paying off a car loan. As noted by Experian.com, you may continue financing your vehicle if its equity does not exceed Tennessee's wildcard exemption. Tennessee generally allows Chapter 7...
How do Chapter 7 and Chapter 13 bankruptcies differ?
When your debts start spiraling out of control due to medical emergencies, job loss or other circumstances, you may feel as if you have reached the end of your rope. You may feel especially stressed if you have creditors calling you at home or at work, in which case...
Your 401(k) when filing for bankruptcy in Tennessee
Tennessee residents filing for bankruptcy know how stressful the process can be. There are lots of questions about which assets and accounts will be impacted by the bankruptcy claim, including your 401(k) and other retirement accounts. Thankfully, retirement accounts...