If you are a Tennessee senior facing serious financial difficulties, you are not alone. If you have begun to think about bankruptcy as your only real option, again, you are not alone. In fact, you are part of a new nationwide phenomenon: gray bankruptcy. The New York...
At McElroy & Associates, We Understand That Bad Things Can Happen To Good People
Get A Fresh Start Through Bankruptcy
Chapter 7 Bankruptcy
You are already on the road to success
Before you go any further towards your goals to reduce and manage your debt, you should stop to congratulate yourself. By thinking seriously about bankruptcy or debt consolidation, you have already made a small victory that sets you apart from many Tennessee...
What is unsecured debt?
While the national and global economy continues to be relatively strong, financial burdens are still everyday realities for many residents in Tennessee. If you find yourself cringing every time another bill or statement arrives, you are far from alone. One thing you...
A call for bankruptcy reform
People in Tennessee who struggle to stay on top of their debt know how stressful this situation can be. Regardless of the reasons that contribute to a person’s inability to pay bills and other debts, there should be a way to get help and be able to start over. For...
Do you qualify for Chapter 7 bankruptcy?
According to FindLaw, up until late 2005 bankruptcy judges could use their discretion to decide whether a debtor qualified for Chapter 7 bankruptcy. As a result, the majority of bankruptcy filers chose to file for Chapter 7 even if they were fully capable of repaying...
What is the meeting of creditors?
Once you start your Chapter 7 bankruptcy in Tennessee, you will learn a lot of new terms and vocabulary. Many of the processes will have legal terms or bankruptcy-specific language, and it is important that you understand what these things mean. One such phrase you...
What should you do if you cannot afford to file bankruptcy?
It is bad enough when you reach the point where you realize you need to file bankruptcy, but when you also realize that you cannot afford to file bankruptcy in Tennessee, things become even worse. It is not uncommon to worry about affording bankruptcy. After all, you...
Getting the facts on adversary proceedings
Many Tennessee residents who file for bankruptcy hope that their case proceeds without any problems or detours. However, complications can result in the bankruptcy process. Perhaps a creditor does not approve of the court discharging a debt in your Chapter 7 case, or...
Credit counseling required before filing for bankruptcy
As a Tennessee resident looking to give yourself a clean financial slate through filing for bankruptcy, you may be studying up on the process, and some of the information about what bankruptcy can do and what it entails may surprise you. You may, for example, not have...
Are you eligible for bankruptcy?
You might not think about bankruptcy as something you have to qualify for, but that is how it works in most cases. At Jimmy E. McElroy & Associates, we find that most people in Tennessee simply are not prepared for how exclusive the process is, especially when it...