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Chattanooga Bankruptcy Law Blog

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…

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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 property in order to come up…

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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…

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The possible consequences of falling behind on monthly payments

It is no secret that dealing with the burdens of debt can be a stressful and taxing experience. If you are staring down mountains of consumer debt, you could be experiencing a variety of hardships, and you might wonder how these issues will impact your financial…

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It may get easier to discharge student loans through bankruptcy

Many Chattanooga residents take out student loans in order to finance their higher educations. However, at present it is very difficult for Tennessee residents who hold federal student loans to eliminate those burdens in bankruptcy. That is because in order to do so, a debtor must…

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Bankruptcy during retirement can be scary without help

Many Tennessee residents have worked their entire lives to pay down their homes, build up their retirement funds, and prepare themselves to ride out their lives without the hassle and worry of everyday employment. For most, a well-executed plan can get them comfortably into retirement. For…

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How the FDCPA can help you fight against unlawful collections

You never know when a financial crisis will hit, whether globally, nationally or on a much more personal level. You may be one of many in Tennessee who recently suffered unexpected job loss or faced a medical emergency, the associated expenses of which you were completely…

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Do I qualify for Chapter 7 bankruptcy?

In order to determine if a person will qualify for the protections offered from Chapter 7 bankruptcy, he or she must carefully review a number of factors related to their financial situation. In order to successfully perform this analysis many individuals in difficult monetary situations turn…

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Credit card companies can raise interest rates on consumers

Every credit card that a Tennessee resident applies for and uses to make purchases comes with an interest rate. That interest rate is applied to the balance that a consumer carries on their card if they do not pay off their purchases in full at the…

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Homestead exemption is higher for older Tennessee residents

One of the biggest fears that a Tennessee resident may face when considering bankruptcy is the prospect of losing their home. Depending upon the form of bankruptcy the person chooses to pursue, they may have to sell off or liquidate some of their possessions in order…

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