A Tennessee debtor who is currently making payments under a court-confirmed Chapter 13 bankruptcy plan would need to modify the terms if new income enters his or her financial picture. Under such circumstances, the bankruptcy court would review the new information and...
Year: 2016
Chapter 13 and returned funds
While filing for bankruptcy is something that most people don't want to do, there are situations in which it makes the most sense for their financial health. When people in Tennessee file for Chapter 13 bankruptcy, they know that they have to fulfill a court-approved...
I’m in over my head, and school’s to blame. Can I file bankruptcy to get rid of my student loans?
In an era where an undergraduate degree can cost an astounding $200,000, people often ask us whether bankruptcy can help them escape student loans. The unfortunate reality is that few people have the option to discharge (free themselves of) student loans through...
Escaping the credit card debt trap
Tennessee residents with unmanageable bills often get into trouble financially after a job loss or other unexpected setback. Few people in these situations have enough money put aside to cope for long without a paycheck, and credit cards allow them to make ends meet...
Companies that survived bankruptcy – and thrived
Many business owners will put off filing for bankruptcy because they believe bankruptcy is the mark of death to their business. What they do not realize is that the decision to wait to file -- particularly when their business continues to incur debts -- can be the...
Creditor alleges it did not receive bankruptcy notice
When Tennessee consumers file for Chapter 7 bankruptcy, all of their nonexempt assets are liquidated to pay off creditors. At the outset of the process, the creditors receive a notice about the filing. If a creditor does not respond, the debt owed to the creditor is...
Employers may check for bankruptcy in Tennessee
People who file for bankruptcy may be surprised to discover that their current or potential employers are legally allowed to find out about their filing. Many organizations are now doing background checks on job applicants, and these checks may involve determining if...
Answering your questions about business bankruptcy
You take pride in your business, and for good reason. Yet, like many businesses, you may have hit rough waters. There are times when market circumstances can challenge a business, and there are times when companies make decisions that don't pan out the way they...
Issues that could ruin a bankruptcy case
Anyone can run into financial difficulties that lead to the consideration of bankruptcy. A Tennessee resident filing for bankruptcy might find it helpful to understand some issues that can crop up during the process that can undermine one's case. Rapper 50 Cent...
How a pay raise affects bankruptcy
When Tennessee residents are having trouble paying their bills, there are a few options for debt relief available. Bankruptcy is sometimes the best way to clear debts and begin rebuilding credit. There are two primary types of bankruptcy filing for individuals....