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Chapter 13 Archives

Tennessee technology subcontractor files for bankruptcy

Owning and operating a business isn't always a clear and precise route. Sometimes things come up that challenge even the savviest of managers and business owners. A Tennessee technology subcontractor for Google found tough times recently, forcing them to file for asset reorganization bankruptcy. Essentially, the company has overwhelmingly more liabilities than assets and had to do something to reconcile that discrepancy.

Bankruptcy is an option for those who can't make payments

Sometimes, life's unexpected expenses can creep up on a family and drain all of their available funds. Major events such as medical incidents or layoffs can put a family in a bad financial spot. This can make it difficult for a person to make their mortgage payments on time.

Chapter 13 bankruptcy allows you to pay back your debts

A penny saved is a penny earned. Well, that's what your parents always said right? But the way it is today, with cost of living at an all-time-high, it can make it difficult for anyone in Tennessee to save money. This can lead to devastating and crippling debt that makes it hard to even get up in the morning.

Who is now eligible for Chapter 13 bankruptcy?

Filing for bankruptcy is a big decision, and something that should be thought through. Whether it is necessary due to a period of unemployment, a serious illness, or other unexpected expenses, Tennessee residents thinking about bankruptcy should understand the different options available to them and what they might mean. This blog has previously discussed some of the main differences between filing for Chapter 7 bankruptcy and Chapter 13, including some of the basic eligibility requirements.

What are the three types of creditors in a Chapter 13 case?

Tennessee residents who have gotten into debt may feel overwhelmed, as if there is no way out. Whether because of a period of unemployment, medical bills or other types of emergency expenses, anyone may find herself in such a situation. One possible solution in these cases is a bankruptcy filing. This space has previously discussed several types of bankruptcy petitions that can be filed depending upon what the debtor needs to accomplish. This time, we'll take a quick look at the Chapter 13 process and the classes of creditors that may be involved.

Sporting goods giant Gander Mountain rumored to file bankruptcy

With the ever-changing landscape of retail and online retailers, it is bound to bring inevitable change to how people shop. This, in turn, will affect retail, especially large brick-and-mortar companies. One such company, Gander Mountain, which has several Tennessee locations, has been rumored to be filing for bankruptcy. A company representative has officially answered the allegations that were made on this matter.

What is Chapter 13 and how is it beneficial?

Tennesseans who are facing financial challenges often do not know where to turn or which potential options are most suitable to their particular situation. Being in debt does not mean that there is no chance for a fresh financial start, but it is important to know which method is preferable. For those who have a job and earn wages, filing for Chapter 13 is a step to consider.

Tennessee leads the nation in bankruptcy filings

While many Tennessee families are able to make ends meet, there are a percentage of Chattanooga residents that are struggling to get through the day due to the state of their finances. It can come to a point where it feels like you or a loved one is drowning in the unpaid bills. Whether tired of living day-to-day on credit cards or sick of the bill collector's phone calls, it may be time to consider debt consolidation as an answer. Many Chattanooga residents have explored Chapter 13 bankruptcy as a solution to their debt problems.

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Mark T. Young & Associates
2895 Northpoint Blvd.
Hixson, TN 37343

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