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Bankruptcy is not a problem only for young people. Tennessee residents may harbor the misconception that financial mismanagement during one’s youth is the root cause of economic struggles. However, recent trends in bankruptcy filings suggest that even individuals who have reached retirement age can be affected…
Every day American across the country make the difficult decision to pursue bankruptcy to alleviate their financial obstacles. Whether they have fallen on hard times due to medical or credit card debt or have suffered the loss of their income due to a lay-off or downsizing,…
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…
Under the law, businesses can be recognized as legal entities and, therefore, may have certain rights when it comes to seeking bankruptcy protection. For example, a Tennessee business that has overwhelming debts and cannot turn a profit to repay those obligations may be able to use…
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…
Many medical procedures cannot be avoided. When Tennessee residents must undergo surgeries or other treatments to save their lives and maintain their health, they may not have money saved to take care of the bills they will later receive. This can cause patients to incur medical…
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…
Working through a bankruptcy from filing to discharge may seem daunting for a Tennessee resident. For example, under Chapter 13 bankruptcy, a debtor may have to find a way to commit much of their disposable income to the repayment of their debts. Under Chapter 7 bankruptcy,…
Different paths to bankruptcy relief exist because not all individuals experience the same financial challenges and difficulties. As such, a Tennessee resident who is confronting significant financial hardship may elect to file for Chapter 7 bankruptcy or Chapter 13 bankruptcy. If they wish to pursue Chapter…
Tennessee residents use the bankruptcy process to alleviate burdensome and sometimes overwhelming debts that they accumulate over time. For individuals who earn steady incomes, Chapter 13 bankruptcy can be a useful tool. It allows debtors to create repayment plans through which they identify their debts and…
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