Memphis residents can consider filing for Chapter 7 bankruptcy when their debts become overwhelming. This type of bankruptcy wipes out several forms of debt, including medical bills and credit card debt. People choose this type of bankruptcy because it offers a fresh...
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Chapter 7 Bankruptcy
Keeping your car if you file for bankruptcy
Tennessee consumers who are struggling with unmanageable financial situations often delay filing for bankruptcy or do not seek debt relief at all because they are worried about their property being sold to pay their creditors, and the assets they usually fear losing...
The number of times you can file for Chapter 7 in Tennessee
In Tennessee, you can file for Chapter 7 bankruptcy as many times as you need to, but there are strict rules you will need to observe to do so successfully. Most importantly, you must wait for a few years from your previous discharge to file for another. In some...
Cars during bankruptcy
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...
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....