In a divorce, you have to divide assets and debts. If you and your spouse still owe money on a car that you purchased together, for instance, that vehicle may be both a debt and an asset. You have to decide how to deal with it when dividing everything from the...
Chattanooga Bankruptcy Law Blog
Will bankruptcy always end wage garnishment actions?
Wage garnishment is a legal process that allows a creditor with a valid claim to intercept a portion of someone's income before they receive their paycheck, thereby forcing them to make payments on a financial obligation. A garnishment is often the outcome of a...
Steps to rebuilding your credit score after bankruptcy
Bankruptcy may negatively impact your credit score, but it doesn't have to define your financial future and well-being. As soon as the dust settles, it's the perfect time to embark on a journey toward regaining financial freedom. Rebuilding your credit score is an...
Repossession and resale commonly causes 2 types of financial stress
Modern vehicles are so expensive that most people cannot afford to purchase one without financing. Car loans allow employed individuals of all income levels to afford reliable transportation with a reasonable down payment and monthly payments on the vehicle. There...
What happens to student loans in bankruptcy?
Those with sizable student loans are often unsure of what their financial obligations related to their education will mean during a bankruptcy. Many people have heard the myth that bankruptcy cannot discharge student loan debts. That claim is not true. There are rules...
What you should know about “zombie debt”
If you’re dealing with overwhelming debt, it can feel like you owe everyone from the place you went for pizza during college to the gym you left last year because you could no longer afford that luxury. Collectors may be contacting you via phone, text and email every...
Why payday loans lead to financial trouble
To get a payday loan, you need to prove that you have some level of income, and then you’re given an amount of money that you have to pay back when you get your next paycheck. For example, maybe your paystubs show that you make $1,000 every two weeks. A payday loan...
Why those with health insurance often still end up with medical debt
Health insurance assists people with the basic costs of maintaining their health and treating any concerns that arise. People trust that the health insurance they purchase or receive through their employer will allow them to get the care they require if they have a...
Can you manage your student loan debt after graduation?
You’ve just graduated college and now you’re looking at a large number of student loans for your troubles. It’s likely going to take some time before you can pay off all of your student loans. Seeing how much you have can be overwhelming. How are you going to pay it...
What are your options when resolving credit card debt?
Getting a credit card can help in a lot of ways. It can help pay for gas, food, school books, clothes or even the occasional night out. But, eventually, creditors are going to want their money back and you’ll be responsible for paying it. There are many ways you can...