Chattanooga Bankruptcy Law Blog
Who is most likely to struggle with medical debt?
It’s no secret that healthcare costs are extremely high in the United States – and paying medical bills can be difficult. In fact, one in four Americans has struggled to pay a recent medical bill. While anyone could struggle with medical bills and debt, certain groups...
Be extra cautious when using credit cards during uncertain times
Millions of people have been or are expected to be affected by the current pandemic. In addition to those diagnosed with the virus, many more will feel financial effects through layoffs or having their work hours reduced. If you are experiencing those repercussions,...
Could COVID-19 lead to more bankruptcies?
Medical bills are already a debilitating burden for many Americans. An estimated two-thirds of all bankruptcies are due to medical reasons – either high costs for care or work time missed – according to CNBC. What’s more, every year more than half a million families...
Car repossession in a bankruptcy filing
When you’re already in debt, it is essential to maintain your current livelihood to keep from accruing any more debt. New cars are becoming less and less affordable for many Tennessee residents, despite the necessity of owning a working vehicle. When this vehicle is...
How to use credit responsibly
Credit is tempting to think of as free money, so long as you pay the minimum payment on your cards each month. When you’ve maxed out one card, it’s easy to open another. Yet you may find yourself facing bankruptcy if you rely on credit cards to finance your lifestyle....
Bankruptcy judge discharges $220K in student loans
One of the biggest myths surrounding the massive student loan crisis in the U.S. is that these debts are never discharged by bankruptcy courts. While it’s not an easy thing to do, it is possible. That was proven early in January when a bankruptcy court judge wrote off...
Paying off credit card debt
Credit card debt can sink financial solvency and lead to bankruptcy. There is currently $1 trillion of credit card debt in this country. But there are workable ways to pay off credit card bills. The avalanche method starts with paying off the credit card rate with the...
You’re in debt. Is bankruptcy a viable option?
Do you consider yours an average Tennessee household? If so, then you've likely had your share of financial ups and downs in the past five to 10 years. Even if you have dual income earners in your home, economic strain is not uncommon in this state or throughout the...
Bankruptcy exceptions can protect assets
Bankruptcy can provide a fresh start after incurring insurmountable debt. Chapter 7 exemptions provide bankruptcy protection over a debtor's property while dealing with debt. Chapter 7 bankruptcy is typically a faster and easier process than Chapter 13. Under Chapter...
The good and bad of credit cards
Having a new credit card can provide perks and better credit. But this can also lead to problems such as credit card debt and a bad credit score. The best reasons for opening a new credit card include new member bonuses such as bonus points, miles, and cash back....
