At McElroy & Associates, We Understand That Bad Things Can Happen To Good People
Get A Fresh Start Through Bankruptcy
Approximately 5.17 people out of 1,000 files for bankruptcy in Tennessee, double the national average. Many of these individuals file for Chapter 13 bankruptcy because it lets them keep their assets while getting caught up on payments. While most people make timely...
According to studies, approximately 68 million Americans deal with bad or poor credit. For Tennessee residents with poor credit, buying a home, purchasing a vehicle, and various other tasks become impossible. Fortunately, credit repair options allow those with poor...
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...
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...
Credit card debt is growing at an alarming rate in Tennessee and around the country. In the final quarter of 2022, the amount of money Americans owe to credit card companies increased by more than $60 billion to $986 billion. In January 2023, that figure rose by a...
Many Mississippi residents seek debt relief through bankruptcy. Bankruptcy is a legal process that relieves an individual of all or most of their financial debt obligations. Filing bankruptcy lessens stress over money, bills and constant creditor calls, but it also...
If you have significant medical debt, you are likely familiar with its negative impact on your credit score. Fortunately, recent changes in Tennessee law regarding medical debt have decreased the impact it has on credit reports. How medical debt affects credit reports...
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...
Going through bankruptcy in Tennessee negatively affects your credit score and can wreak havoc on your finances. It can also take a toll on you emotionally, and if you are looking to purchase a new home you might fear that no banks will lend to you. Many people have...
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...