Tennessee residents who are struggling to cope financially sometimes do not file for bankruptcy because they worry about the impact that doing so would have on their credit ratings. While personal bankruptcies remain on credit reports for seven or 10 years, the impact...
Month: April 2017
Consumer debt picks up after sluggish January
Tennessee residents may be using their credit cards more than in the past. According to the Federal Reserve, Americans have accrued $3.79 trillion in consumer debt. That is an increase of $15.2 billion in February according to data from a report it issued on April 7....
Attorney cannot recover loaned bankruptcy filing fee
Tennessee consumers who are struggling with their financial obligations might be interested to learn that a bankruptcy court in another state ruled that when a debtor's bankruptcy attorney paid the debtor's filing fees, this did not permit the attorney to be repaid...
Spike in bankruptcies during March and April
Many people in Tennessee and around the country look forward to tax refunds because they allow individuals to make large purchases or pay off significant debts. However, for some, a tax return will allow them to get out of debt by filing for bankruptcy rather than by...
Won’t bankruptcy destroy my credit?!
For many consumers, a good credit score seems life-or-death important, although they're not exactly sure why. Some people will endure incredible financial distress to keep their credit score up, even though they know there's no logical way to keep making all their...
How Chapter 7 can help you save your home
The thought of losing your home to foreclosure: It's a nightmare that you hope will never come true. But if you're behind on your mortgage payments and the bank is threatening foreclosure action, you may be looking desperately for a solution that will get things back...
Filing for Chapter 13 or Chapter 7: When waiting too long can cost you
Filing for bankruptcy is a big decision that should never be rushed or taken lightly. But for individuals, couples and small-business owners who feel like they are drowning in debt, bankruptcy can be a lifesaver, sometimes literally. The stress of excessive financial...