In Tennessee and across the United States, people who are experiencing severe financial challenges may need to contact an attorney regarding debt relief. Delinquency in mortgage payments and credit cards may lead to a constant bombardment from creditors attempting to collect payments. A debtor may have the ability to stop creditor harassment by taking the right legal steps. A person who receives a court summons or official complaint from a creditor needs to respond promptly.
Many bankruptcies are linked to student loans
America's student loan debt crisis is taking its toll on consumers in Tennessee and across the United States. A new study by LendEDU finds that 32% of individuals filing for Chapter 7 bankruptcy have student loan debt. Of those individuals, student loans account for almost 50% of their average total obligations.
Can an LLC bankruptcy impact your personal assets?
As a small business owner, even allowing yourself to think about bankruptcy can be nerve-wracking. You've likely put blood, sweat, tears and countless hours into launching and running your limited liability company. But for whatever reason, you're having trouble seeing a future.
Bankruptcy vs. debt consolidation: the pros and cons
Your business has had a few down years and the debt is stacking up. The bills for your surgery are astronomical, the car just died, and your credit card debt is getting out of control. For many, these situations are a reality and can be suffocating.
Can your employer provide debt relief?
Employers across the United States have started to offer student debt relief benefits to their employees. Student loan assistance started as a niche offering by a handful of companies and has grown in recent years. This benefit has been helpful to employees nationwide.
Things to avoid when considering business bankruptcy
If your business is struggling financially, filing for Chapter 11 bankruptcy may be your best option. When considering bankruptcy, there are three steps you should avoid:
Bankruptcy and Divorce: What you need to know
Often divorce and bankruptcy are intertwined. Nearly 22% of marriages that ended in divorce, reported that money issues were the main reason for their divorce.
Can student loan debt forgiveness really happen?
Some lawmakers have proposed bills canceling all student debt across the United States but is that really possible? It is estimated that combined student loan debt throughout the nation is $1.6 trillion.
