The chances of a chapter 7 bankruptcy application getting denied are minimal with more than 99% of all applications in the United States ending in discharge. Still, numerous bankruptcy applications are denied every year. Understanding the reasons why your Chapter 7...
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Chapter 7 Bankruptcy
What not to do before filing for Chapter 7 bankruptcy
If you’re considering filing for Chapter 7 bankruptcy, it’s important to understand the regulations around spending and other financial transactions in the months prior to filing. Activity that can be viewed as trying to defraud the bankruptcy court can derail your...
Chapter 7 bankruptcy vs. Chapter 13 bankruptcy
The main benefit of using a credit card, taking on personal loans or applying for a mortgage is that you can get something now, such as furniture, a home or a vehicle and pay for it later over several installments or monthly fees. However, debt can quickly become...
Tips for handling emotions during the bankruptcy process
Individuals going through the bankruptcy process may experience a range of feelings. Understanding and acknowledging these emotions is crucial in effectively handling the bankruptcy process. Whether negative or positive, each emotion plays a role in the individual's...
Can filing for bankruptcy stop a foreclosure?
When your lender files for foreclosure, you may believe that you’re going to lose your home, but you’re seeking anything you can do to prevent it. This could be because the home is very important for you and your family, so it’s your main priority. It could also be...
Chapter 7 bankruptcy is an option
When a financial situation becomes so dire that covering debts is impossible, a Tennessee resident might seek protection under federal bankruptcy laws, such as by filing Chapter 7 bankruptcy. Those who meet the requirements can take the necessary steps to eliminate...
Why personal bankruptcy filings continue to rise
Many Tennessee residents are having a tough time financially in 2023. Personal bankruptcy filings have increased by 20% over the previous year. Yet, you don't necessarily have to file for bankruptcy if you find yourself in financial trouble. Consider alternatives...
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...
The bankruptcy exemptions in Tennessee
When Congress drafted the nation’s bankruptcy code, lawmakers created a list of exemptions that allow individuals to protect certain assets when they seek debt relief. The bankruptcy code also allows state lawmakers to create their own exemptions. In some states,...
Struggling with debt?
Thousands of Tennessee residents struggle to varying degrees with debt, and you may find yourself in that position: Worried about paying your bills, juggling payments from month to month, struggling to make ends meet and resorting to more credit to stay above water....