Incarcerated people in Tennessee may be unable to file for Chapter 13 bankruptcy if they cannot demonstrate that they have enough income to make payments on their own. Chapter 13 allows people who file for bankruptcy to keep some property, but they must arrange to...
Year: 2017
How collections affect credit scores
When Tennessee residents fail to pay a creditor, they are likely to be expected to pay a late fee, and they may also be reminded by the lender that they owe money. If this goes on for an extended period of time, their account may be passed on to collections or sold to...
Why bankruptcy may be ineffective against your student loan debt – and why that doesn’t matter
When you hear the two words, "student loan," do you have an emotional reaction? Is it panic about how difficult it is to make your huge payment each month? Is it anger about your inability to refinance a loan with a high rate that feels predatory? Is it a sense of...
New bankruptcy rule
Tennessee residents who are in debt and are considering Chapter 13 bankruptcy may be interested to learn about an interesting bankruptcy rule. On Feb. 7, 2017, the United States Bankruptcy Court for the Southern District of Illinois issued Rule 3015.1, which requires...
Trump’s Chapter 11 bankruptcies: Good news for your small business
In a previous blog, we glanced at the reported six Chapter 11 bankruptcies filed by President Trump's businesses in the past. According to the Washington Post, these bankruptcies date back to Trump's Atlantic City Taj Mahal in 1991 and end with the 2009 filing by...
Who is obligated to pay the debt of a decedent?
In many cases, Tennessee residents die while they still owe money to credit card companies. Some family members may worry that they are obligated to pay these debts, and debt collectors and creditors may attempt to give people this impression. However, in the majority...
Bankruptcy: It worked for President Trump. It could help you, too.
Many Americans have strong feelings, positive and negative, about our new president and his financial history. Some are impressed, even dazzled, by his many eponymous businesses and displays of apparent personal wealth. Others are skeptical about President Trump's tax...
Americans owe more than $1 trillion to credit card companies
Unmanageable levels of revolving debt are a serious problem for a growing number of families in Tennessee and around the country, and the amount Americans owe to credit card companies now exceeds $1 trillion. Some financial analysts say that rising credit card debt is...
Potential effects of bankruptcy on car loans
When financial woes overwhelm Tennessee residents, car loans might be among the first bills to go unpaid. Sometimes people choose to return the vehicle, or the lender repossesses it. No matter which action occurs, the consumer remains responsible for the unsatisfied...
Millennials and debt
There are certain steps Tennessee millennials can take to get out of debt. Having a firm grasp of one's finances and alleviating debt is essential to being able to being financially successful in the future. Millennials should be aware of exactly what debts they owe...

