Many Tennessee residents turn to bankruptcy for debt relief. Although each type of bankruptcy is different in certain aspects, all have one thing in common: they utilize the services of a trustee. A trustee is a person appointed in every bankruptcy case to help...
Month: July 2015
Rapper 50 Cent files for bankruptcy; owes $28 million
Famous musicians don't always have millions of dollars in the bank. Take rapper 50 Cent, for example. Many Tennessee music lovers are familiar with 50 Cent's work, but in reality, the rapper supposedly doesn't even have 50 cents to spare. The rapper, whose real name...
Filing for Chapter 13: Process for debtors
When debt becomes too great for Tennessee consumers to handle, Chapter 13 bankruptcy is a viable option. Chapter 13 does not eliminate debt like Chapter 7, however. Rather, it allows consumers to pay off debt over an extended period of time so they can hold onto their...
Can I work directly with creditors to reduce credit card debt?
Tennessee residents behind on credit card payments may be faced with creditor harassment, such as excessive phone calls at all hours of the day and letters demanding payment. They may think that bankruptcy may be their only option, but before making such a drastic...
Firearm manufacturer Colt remains open after business bankruptcy
Tennessee residents are familiar with longtime gun maker Colt. Like many businesses, Colt has had its share of ups and downs over the past several years as the economy recovers from a recession. After accumulating hundreds of millions of dollars in debt, the company...
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