Every year, many Tennessee residents find themselves trapped in a financial hole with a load of debt. To make matters worse, this debt keeps accumulating interest every day, meaning that the hole only gets deeper with each passing month. These debtors stand to gain...
Chapter 7
Medical bill and bankruptcy
Many people in Tennessee find themselves overwhelmed by debt suddenly after emergency medical care without health insurance. One woman in California drove herself to the emergency room after a car accident to avoid the costs of an ambulance ride but still was billed...
Wait time to file Chapter 7 bankruptcy again
Many consumers in Tennessee who have accumulated debt they cannot pay back choose to file bankruptcy to stop creditors from calling and get a financial fresh start. Debtors can only file for a Chapter 7 bankruptcy every eight years. Debtors who have previously filed...
Financial recovery after bankruptcy
Bankruptcy is commonly considered to be a financial disaster that's very hard to recover from. However, new data from financial experts shows that this may not be the case for all debtors in Tennessee. Nearly half of Americans who file for bankruptcy have their credit...
What to know about Chapter 7 bankruptcy
Individuals and business owners who are looking for a way to handle their debt may wish to file for bankruptcy. Chapter 7 is one of the most common forms of bankruptcy, and it involves liquidating assets and using the funds to pay creditors. Some assets may be exempt...
Thorough preparation necessary when approaching bankruptcy court
Tennessee residents overwhelmed by their debts could face additional stress if they make incomplete disclosures when filing for bankruptcy. Court paperwork requires that people detail every creditor and amount owed. A failure to inform the court about every debt and...
Medical debts and bankruptcy cases
Concerns about medical debt continue to grow in Tennessee and across the United States. According to a study published in 2013, people who have cancer are 2.5 times more likely to declare bankruptcy. The bankruptcy system is designed to give people a fresh start, and...
More seniors seeking debt relief in bankruptcy
An increasing number of senior citizens in Tennessee and across the country are facing financial crises up to the point of filing for bankruptcy, statistics show. More seniors than ever before are seeking personal bankruptcy, with that number doubling since 2013....
Loans after bankruptcy mostly determined by credit score and time
Business owners in Tennessee with bankruptcies on their records still could have opportunities to obtain new loans. People who have rebuilt their credit scores might secure financing from some institutions. Lenders also give less weight to bankruptcies that occurred...
Credit scores and the impact of bankruptcy
Tennessee residents whose credit scores have been negatively impacted by their substantial debt may not see a significant impact on their scores if they file for bankruptcy. However, depending on the type of bankruptcy that is filed, it may be 7 to 10 years before...