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...
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Get A Fresh Start Through Bankruptcy
What Bankruptcy Can Do
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....
How Chapter 13 can help save your home
For many Tennessee residents, what was a reasonable mortgage amount in 2019 is more than you can handle today. Bankruptcy may look like your best option if you struggle with too much debt every month, but you worry about losing your home and how you and your family...
How can debt affect your mental health?
While many Americans face high amounts of debt, you may feel like you cannot escape from the burden. According to CNBC, people use side hustles and freelancing to pay off large debt amounts. The problem with burning yourself out over debt is the effect that it has on...
Can debt relief help me?
When faced with mounting bills, it is easy for a person's financial situation to get out of control quickly. When this occurs, your first impulse may be to sign up with a debt relief program. After all, these programs make impressive claims about reducing or even...