Many people in Tennessee are struggling to make ends meet and falling behind on their bills. There are a number of issues that can contribute to financial troubles, from excessive credit card debts to sudden job loss. However, the most common single cause of personal...
Chapter 7
Bankruptcy collections
When people living in Tennessee file for bankruptcy, they typically do so with the understanding that the automatic stay of bankruptcy, and eventual discharge of debts, will stop creditor harassment. Unfortunately, there have been cases in which a creditor has decided...
Bankruptcy could discharge debts from lawsuit judgments
Some bankruptcy cases in Tennessee involve court-issued judgments that obligate defendants to pay debts resulting from lawsuits. Because federal law governs bankruptcy, the judgments issued by state courts will not automatically avoid discharge within a bankruptcy. A...
Why Tennessee seniors shouldn’t use 401(k) funds to pay off debts
The number of older Americans filing for bankruptcy today is three times what it was in 1991. A combination of factors has contributed to the increase, including rising health care costs and a decline in pension benefits. Generally speaking, older Americans have fewer...
A break could be coming for student loan borrowers
Student loan debt is a major financial burden for many graduates throughout Tennessee and the rest of the country. This debt often prevents individuals and families from buying cars and even taking out loans for homes. In order to make things easier for borrowers,...
Medical bills may hit even insured patients
A significant number of Americans in Tennessee may face a growing debt burden as a result of medical bills. Even though people often prepare extensively for the medical costs they will have to bear, almost one out of every seven patients received an unexpected bill...
Some employers are helping employees pay off debt
A number of Tennessee residents are battling with debt, whether it be from medical bills, credit card balances or student loans. Understanding the impact that this debt is having on their workers, a number of companies around the United States are offering to help pay...
What to know about Chapter 7
Tennessee residents who are considering filing for bankruptcy may have several available options. One possibility is to file for Chapter 7 bankruptcy, which is also referred to as a liquidation bankruptcy. In this type of filing, nonexempt assets are sold off with the...
Study finds medical bills significant factor in bankruptcies
Tennessee residents who are struggling to pay their medical bills are not alone. A study that appeared in the American Journal of Public Health found that illnesses and their associated costs contributed to around two-thirds of all bankruptcies. According to the...
Discharging student loans in a bankruptcy
With student loan debt increasing throughout the U.S., many college graduates in Tennessee may be tempted to turn to bankruptcy. While students loans were dischargeable in bankruptcy prior to 1976, Congress has amended bankruptcy laws several times. Since 1998, public...