At McElroy & Associates, We Understand That Bad Things Can Happen To Good People
Get A Fresh Start Through Bankruptcy
When you are drowning in insurmountable debt, a chapter 7 bankruptcy can provide a way out. It can give you a much-needed fresh start and eliminate crippling financial problems. Unfortunately, far too many people have developed incorrect assumptions about filing for...
Tennessee residents often file Chapter 7 or Chapter 13 petitions when overwhelming debts make their financial situations unmanageable, but some obligations cannot be included in personal bankruptcies. Priority debts that cannot be discharged in a bankruptcy include...
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...
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...
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...
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...
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...
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...
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...
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,...