Filing for bankruptcy can offer you a fresh financial start, as it can end wage garnishments, creditor phone calls and other negative events. It may also allow you to keep assets such as funds in a retirement account or a Tennessee home, making it easier to rebuild...
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Get A Fresh Start Through Bankruptcy
What Bankruptcy Can Do
Bankruptcy isn’t always the best option
Filing for bankruptcy may be an ideal way to keep your Tennessee home or to put a stop to wage garnishment. However, there may be other options available to help you get out of debt without doing as much harm to your credit score or creditworthiness. These options may...
The long and short term costs of bankruptcy
Bankruptcy is a legal process designed to help residents of Tennessee and Arkansas regain financial control by eliminating all or part of their dischargeable debt. Filing bankruptcy has some immediate short-term impacts and long-term effects as well. It’s a...
Will filing bankruptcy discharge tax debt in Tennessee?
Most people understand that bankruptcy clears unsecured debts like credit cards and medical bills. However, misunderstandings remain about discharging tax debt with bankruptcy. In reality, bankruptcy can clear some tax debts that are owed to the IRS or another tax...
Decide if bankruptcy is right for you
When you realize that you need some financial help, you might look to bankruptcy to end your problems. While bankruptcy is the best possible scenario for many people near Memphis, it doesn't necessarily get rid of all debt, and you should only enter into a bankruptcy...
What can you legally keep after you file for consumer bankruptcy?
If you experience significant financial difficulties in Memphis and the surrounding areas, including Arkansas, you may decide to file for bankruptcy. When used correctly, a bankruptcy filing can help you regain control of your finances. During the process, some filers...
What is the automatic stay in bankruptcy?
Residents of Tennessee who are crippled by massive debt might want to consider filing for bankruptcy. After filing, an automatic stay goes in place. This is an important component of the process. The automatic stay explained When a person files for Chapter 7 or...
The relationship between bankruptcy and your credit score
Filing for bankruptcy may result in losing your car, Tennessee home or other assets, and taking such a step may also have a significant impact on your credit score. Typically, scores go down after seeking Chapter 7 or Chapter 13 protection from creditors. However,...
How may a Chapter 7 bankruptcy affect keeping my car?
A Chapter 7 bankruptcy may not require you to give up your vehicle, even while paying off a car loan. As noted by Experian.com, you may continue financing your vehicle if its equity does not exceed Tennessee's wildcard exemption. Tennessee generally allows Chapter 7...
How does the automatic stay work?
When you file for any type of consumer bankruptcy, the court issues an automatic stay immediately. This stay gives you protection against debt collectors. According to Cornell Law School, the automatic stay prevents debt collectors from collecting the debts you owe....