An overwhelming burden of debt is stressful. You are behind, interest is accumulating and you do not know if you can ever catch up. Whether you owe thousands on credit cards or you are behind on your mortgage, your financial situation is already difficult enough, yet creditors and debt collectors can make it worse.
Statute of limitations to collect Tennessee medical bills?
The costs of medical care continue to rise in Tennessee and around the country. Although the rate of this rise in costs has decreased since the adoption of certain federal laws in the last decade, being treated for an injury or illness, especially a serious or chronic one, can be a very expensive proposition. Further, even those with health insurance can end up acquiring large amounts of medical debt, as low-premium plans with high deductibles and low co-insurance percentages continue to gain in popularity.
What is a 'means test' in Tennessee Chapter 7 bankruptcy?
Filing for bankruptcy can help Tennessee residents get a fresh start on their financial lives. Whether they became saddled with debt they can't pay through loss of a job or unexpected expenses, such as sudden illness, a Chapter 7 liquidation may be able to get them out of dire economic straits. However, not everyone has a right to debt discharge through bankruptcy, and recent federal laws have attempted to deal with what some people claim is an 'abuse' of the process.
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.
What is an example of claiming exempt property in Chapter 13?
There are many reasons that Chattanooga resident's financial situations could fall into disarray. Unexpected expenses like medical expenses, loss of a job or other unexpected expenses can send finances into uncharted territory. There is a way to reconcile all of the debt one may have accumulated. Chapter 13 bankruptcy can reorganize assets and liabilities in order to get one's financial situation into a better place.
