For people living near Memphis, bankruptcy can be a concerning financial event. The status of your car during bankruptcy can make a significant difference in the next steps, especially if you need your car for work, childcare, and other key day-to-day tasks. Chapter 7...
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Chapter 7 Bankruptcy
Is Chapter 7 bankruptcy the right decision?
Many people go through financial straits for a variety of reasons, and often those are through no real fault of their own. They just become overwhelmed with debt while having limited resources to apply to their obligations. The result for many consumers in and around...
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...
Chapter 7 bankruptcy and exemptions
When debts become overwhelming, it could be wise to look at monthly obligations compared to income. Tennesse residents might find themselves covering not only credit cards and loans but also mortgage payments, auto loans, food bills, insurance, and more. Some may...
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...
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...
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...