Tennessee residents who are preparing to file for Chapter 13 bankruptcy and who owe domestic support obligations may want to know about a decision out of the U.S. Court of Appeals for the 7th Circuit. The case involved a debtor who was ordered to pay $25,000 to his...
Month: September 2016
Signs that people need financial advice
Debt is one of the main reasons why Americans have a hard time savings. In fact, one in three Americans have nothing saved for retirement while 62 percent have less than $1,000 in a savings account. For Tennessee residents who are having trouble with their finances,...
5 things you should avoid if considering a business bankruptcy
For many business owners struggling with debt, bankruptcy provides the best - and often only - solution for keeping their businesses afloat. However, while a Chapter 11 bankruptcy may be your best option, it is important to remember that, during the time leading up to...
Switching from high interest debt to low interest debt
Many Tennessee residents use credit cards to make purchases and then end up with a high credit card balance that they cannot afford to pay off. Because credit card debts have the highest interest rates of just about any form of obligation, it can be very difficult for...
5 reasons you shouldn’t wait to file bankruptcy
Unfortunately, many people wait far too long to file for bankruptcy protection. In fact, many will first try any other option available before even considering bankruptcy as a solution to their financial problems. They cash out their retirement accounts, refinance...
Southern states ― particularly Tennessee ― have some of the highest bankruptcy rates
According to a recent review of federal bankruptcy data conducted by NerdWallet - a financial information organization - six out of the 10 states with the highest personal bankruptcy rates can be found in the South. Topping the list with 553 bankruptcy filings per...
Refinancing a mortgage after bankruptcy
Tennessee residents who have just filed for Chapter 13 bankruptcy may be eager to get back on their feet by making all of their plan payments on time and rebuilding their credit. However, high monthly mortgage payments can sometimes make it more difficult for people...