Last week's post on the challenges young people face to pay off their medical debt is a good reminder to readers of this Tennessee bankruptcy and debt relief blog that financial hardship is a problem that anyone can experience. It is a mistake to believe that debt is...
Year: 2018
Have you considered these bankruptcy benefits?
Most Tennessee residents might agree that there are basically three kinds of people regarding finances: those who love to talk about all things financial, those who cringe at the mention of the word and those who would rather think about other things but recognize the...
Young adults slammed by crippling medical debt
Different generations have been assigned different names to differentiate them from one another. For example, Tennessee residents who were born in the two decades following World War II may be considered Baby Boomers, while individuals born during the Civil Rights Era...
The wild card exemption of a Tennessee bankruptcy
Bankruptcy exemptions are intended to allow debtors to keep some of their property when they elect to file for bankruptcy. Exemptions can be particularly important to debtors who choose to pursue Chapter 7 bankruptcy, which is often referred to as "liquidation...
Would you give up social media to eliminate credit card debt?
Before the advent of Facebook, Twitter and even smartphones, Americans had to pick up their landline telephones to check in with friends and family members. Now, though, it is more likely that a Tennessee resident would simply check into their preferred social medial...
What commitments are Chapter 13 debtors bound to fulfill?
Deciding to file for bankruptcy and to utilize the protections of the bankruptcy courts should not be done capriciously. A debtor must fulfill significant commitments in order to complete the process and to avoid further financial and legal issues that may result if...
What is “straight bankruptcy”?
"Straight bankruptcy" is just another name for Chapter 7 bankruptcy and the process that goes along with it. Readers of this Tennessee debt relief and bankruptcy blog may know Chapter 7 bankruptcy to be the process of liquidating one's personal assets in order to pay...
Unusual connection between lottery winnings and bankruptcy
It is easy to assume that if a person wins the lottery that they will be set up for financial success for the rest of their life. In fact, if a Tennessee resident wins big and pockets millions of dollars in a lottery windfall, then they may foresee a future where...
Do you need to give up your property if you file for bankruptcy?
Chapter 7 bankruptcy can seem like an extreme financial process for those Tennessee residents who are struggling to find solid financial footing. Often referred to as "liquidation bankruptcy," this form of bankruptcy requires filers to sell off items of personal...
Options for when conditions of repayment plan cannot be met
One of the biggest advantages that Chapter 13 bankruptcy has over Chapter 7 bankruptcy is the fact that debtors do not have to sell off their property in order to pay off their creditors. Rather, a Tennessee debtor may file for Chapter 13 bankruptcy if they have...
