Chattanooga Bankruptcy Law Blog

Receiving a warning that a creditor intends to sue you to garnish your wages may be the straw that breaks your back. You are already struggling each week to keep your home, your vehicle and the necessities of life. If you have children, you may feel overwhelmed trying to provide them with the things they need and want. A wage garnishment can be a devastating blow to your fragile financial state.

Typically, such a garnishment will not come as a surprise. In addition to the notice you receive of the creditor's intent to garnish your pay, you may already know how far behind you are on your debts. If it has been several months since you have made any payments to a particular creditor, that creditor has the right to seek payment through legal means. Wage garnishment is one of those avenues.

The loss of a family home to foreclosure can be a nightmare for a Chattanooga resident. Not only must they struggle to find a new place for their loved ones to live, but they must also contend with the serious financial repercussions that can follow foreclosure proceedings. For individuals who are caught in this difficult situation, help may be available through Chapter 13 bankruptcy.

Chapter 13 bankruptcy is available to individuals who earn income and who, through the reorganization of their debts, can make payments toward the repayment of their obligations. Chapter 13 bankruptcy requires individuals to meet other conditions, and those who read this post and wish to know more about the process are encouraged to seek the support of bankruptcy attorneys.

Bankruptcy is a legal process and it is not completed without the filer suffering some consequences. For example, after completing the personal bankruptcy process a Tennessee resident may find that their credit is affected and that they are having trouble getting loans. Bankruptcy helps individuals get out from under financial burdens, but it is not an easy process to fulfill.

In order to provide prospective bankruptcy filers with information about their finances and options, individuals who wish to pursue Chapter 13 or Chapter 7 bankruptcy must complete courses on credit counseling. These courses help individuals assess their monetary situations and guide them through their options for getting out of debt with the protection of the bankruptcy court. At the end of one's credit counseling course they may find that they can alleviate their economic burdens without engaging in the process, or they may feel confident that bankruptcy is the best way for them to eliminate their debts.

Each day presents new opportunities and experiences for the residents of Chattanooga. While many individuals may embrace the positive events that happen in their lives, they may also fear the repercussions that accompany the negative happenings that afflict them and their loved ones. In particular, the diagnosis of a serious medical condition can be a significantly emotional, physical, and financial hardship.

An accident, injury, or illness can come out of nowhere, blindsiding a person who assumed their health was strong and who was not prepared for the costs that would be associated with their unexpected recuperation. They may watch their savings disappear as they pay off their hospital bills, finance their medications, and seek to borrow money to get the treatments and therapy they need to survive.