Chapter 7 bankruptcies can be great for those who are in debt and who have no disposable income to pay down what they owe. Some people worry about filing for this form of bankruptcy due to the belief that it may leave them with nothing. However, despite the fact that...
Chapter 7 Bankruptcy
Don’t struggle from paycheck to paycheck. Bankruptcy could help
When you were trying to check out at the grocery store, you were embarrassed to have your card say it didn't have enough money to pay for your purchase. You had just been paid that day, and you should have had enough. Unfortunately, everything else you owed had come...
What is a wildcard in bankruptcy?
Chapter 7 bankruptcy might seem to some like a curse, but the reality is that it's an amazingly beneficial way to get out of debt fast if you meet the requirements to file. Chapter 7 bankruptcy got a bad name because of its liquidation aspect. Liquidation bankruptcy...
Inaction may still cause trouble in bankruptcy
One of the long-standing rules of bankruptcy law is that the automatic stay prevents creditors from taking steps to enforce the debts owed to them. In other words, they must do nothing once the debtor files for bankruptcy. However, doing nothing can also get a...
Filing for bankruptcy under Chapter 7
Many consumers in Tennessee and throughout the country find themselves overwhelmed by their mounting financial obligations. Whether it is due to credit card usage, predatory payday or auto title loans, medical bills, or an unexpected job loss, some people may wonder...
Student loan debt discharged in bankruptcy case
Many people in Tennessee have student loan debt that they cannot afford to pay back. On Jan. 7, a bankruptcy judge ruled that a former law student with over $220,000 in unpaid student loan debt could have his debt discharged. The 46-year-old lawyer was a 2004 graduate...
Can Tennessee student loans be discharged in bankruptcy?
The single word answer to this question is, "yes." However, there is much more to be said and many more complexities regarding this subject. It is not impossible to obtain a discharge of a student loan within a bankruptcy, but it is certainly no easy task. It is also...
The different types of bankruptcy exemptions
For individuals facing crushing debt, every day can be stressful. Personal bankruptcy options exist to help struggling consumers facing the weight and stress of overwhelming debt. It provides layers of protection struggling consumers considering filing for bankruptcy...
What are homestead laws in Tennessee?
Homestead laws are an important part of the Chapter 7 bankruptcy process. As a result, it is helpful for struggling consumers considering Chapter 7 bankruptcy protection in Tennessee to understand Tennessee homestead exemption laws and how they can help filing parties...
What is a bankruptcy exemption?
While bankruptcy is an all-around protection for struggling consumers faced with overwhelming debt, bankruptcy exemptions provide an additional layer or protection for the filing party's property. The way it works is that bankruptcy exemptions protect certain...
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