When you file for bankruptcy, you’re acknowledging that you aren’t able to pay your debts. This triggers a legal process in which your case is handled by the court. If you’re filing a Chapter 7 bankruptcy, your nonexempt assets are liquidated to pay off the creditors....
Year: 2020
Dealing with medical debt that you cannot afford
The one form of debt that many Hixson, Tennessee, residents worry about the most is medical bills. After all, if you cannot pay the medical debt you already owe, it may cause you to avoid seeking treatment for new and existing conditions. However, ignoring the debt...
3 questions about medical debt in bankruptcy
For many Americans, every trip to the doctor is a nerve-wracking experience. Will the doctor diagnose them with something serious? Can they afford treatment? If they go into debt to pay their bills, how long will they struggle to fulfill their payments? If you...
When avoiding wage garnishment is your top priority
Those in Tennessee who are struggling with overwhelming debt rely on their paychecks to help make ends meet. When a creditor attempts to garnish your wages, you can expect to struggle even more, not just to pay off your debts, but to meet the basic needs of your...
What if creditors keep harassing you after filing for bankruptcy?
One of the unexpected yet pleasant byproducts of filing for bankruptcy is that it puts an immediate stop to harassment by your creditors. In legal terms, this is known as the automatic stay and is designed to protect you from harsh collection attempts on the part of...
What happens if I default on my student loans?
The student loan debt most people incur while in college can be large. Most students focus on graduating. Many are willing to take on large debt to make that happen. Often, that means not thinking about ongoing financial obligations. The worst choice is defaulting. If...
Common myths about filing for bankruptcy
There are countless harmful misconceptions about bankruptcy that prevent people from seeking relief. While it’s true that bankruptcy is a big decision that shouldn’t be taken lightly, for many, it provides the fresh start they need to get their lives back on track. If...
Can Chapter 13 bankruptcy save my home?
When someone falls behind on their monthly payments for rent or other bills, catching up can seem impossible. Many efforts that someone takes to catch up can look to be in vain, especially when foreclosure becomes a threat to their home. Chapter 13 bankruptcy offers a...
How to beat credit card debt
Credit card debt has a notorious way of sneaking up on someone. It piles up faster than a cardholder seems to spend money. When this debt balloons into the thousands or tens of thousands of dollars, the minimum monthly payment alone can be too much for a person to...
Medical bills continue to plague many Americans
People across the country are struggling with various financial issues as many are out of work or earning reduced income right now. As a result, it is becoming difficult for patients to pay their medical bills. This type of debt can be overwhelming, quickly wiping out...
