At McElroy & Associates, We Understand That Bad Things Can Happen To Good People
Get A Fresh Start Through Bankruptcy
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...
Many people Tennessee consumers are reluctant to file for bankruptcy because of some of the myths involved. While bankruptcy is not something to take lightly, it can provide those in debt with a clear path to getting back on their financial feet. Many reasons to file...
Many Tennesseans, perhaps like yourself, have faced the uphill battle of managing medical debt. Working long hours, selling personal belongings and forgoing conveniences are common coping mechanisms. Understanding the unique nature of medical debt and knowing when to...
The main benefit of using a credit card, taking on personal loans or applying for a mortgage is that you can get something now, such as furniture, a home or a vehicle and pay for it later over several installments or monthly fees. However, debt can quickly become...
Advances in medical capabilities mean that more people survive medical emergencies, traumas like car crashes and diseases than ever before. Sadly, many of those patients end up struggling to overcome the debt they accrue when receiving cutting-edge care. Medical debt...
When someone's financial obligations exceed their household income, they may rapidly accrue debt. If they cannot even make the necessary minimum monthly payments on their debts, they could be at risk of lawsuits and other enforcement actions depending on the nature of...
People considering personal bankruptcy have to make a very important decision before they ever file their initial paperwork. They need to choose what type of bankruptcy they’re going to pursue. Individuals usually choose between Chapter 7 bankruptcy and Chapter 13...
Filing for Chapter 7 or Chapter 13 bankruptcy protection can be an effective way to reduce or eliminate your debts. Furthermore, it can be a way to keep a Tennessee car, home or other items that you don't want to be seized or repossessed. There are many common reasons...
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...
Debt is a double-edged sword because while it can be useful when you need access to resources that aren’t immediately available otherwise, you’ll eventually need to pay it off to build net worth. If you’re unable to clear your debt for whatever reason, you can end up...