At McElroy & Associates, We Understand That Bad Things Can Happen To Good People
Get A Fresh Start Through Bankruptcy
People sometimes underestimate the effect debt has on their lives. While it is primarily a financial issue, the “domino” effects often go far beyond that. Here are some of the ongoing consequences that unaffordable debt may be having on your life. 1. A deterioration...
We’re in precarious economic times, and now the holidays are approaching. If you are planning on filing for bankruptcy due to a mountain of unpaid bills, it could be tempting to run up the credit cards for one final holiday spree. That would be a very bad idea. In...
If you are thinking about filing for Chapter 13 bankruptcy in Tennessee, you might wonder how it could affect your credit score. Credit can influence many parts of your daily life, such as renting an apartment, applying for a loan or setting up utilities. Although a...
A serious work injury does not always mean you must file for Chapter 7 bankruptcy. Still, it can help when medical bills and lost income create heavy debt. Chapter 7 bankruptcy can help you erase most unsecured debts. Whether this option fits your situation depends on...
Bankruptcy can provide emergency relief from extreme financial pressure. People who file for bankruptcy can halt collection activity when they receive an automatic stay. They can discharge some of their debts, making it easier for them to balance their budgets. Not...
Homeowners who are 62 years old or older may decide to tap into their home’s equity without having to sell their property. This is done by getting a reverse mortgage on the property. It can be a financial lifeline in retirement, but there are times when it can become...
Making the decision to file for bankruptcy is a big step in life. One concern that you might have is how you’ll budget. As part of the bankruptcy process, you’ll undergo credit counseling and debtor education. Both contain vital information that can help you to budget...
Filing for consumer bankruptcy can feel like a chaotic process, but getting organized early can make the experience smoother, faster and less stressful. Having the right paperwork ready helps you and your counsel build a strong case and avoid delays. Below is a...
When you file for bankruptcy in Tennessee, you may worry about your vehicle loan. The 910-day rule explains how the court handles recent car purchases in Chapter 13 cases. It can shape whether you keep your car or change repayment terms. Understanding it helps you see...
Foreclosure proceedings can have catastrophic consequences for homeowners. Obviously, they lose their primary residence when the lender reclaims it as collateral for the mortgage. The foreclosure process results in a total loss of accumulated equity as well, which can...