When filing for Chapter 7 bankruptcy, a trustee oversees the liquidation of non-exempt assets to pay back creditors of an individual or married couple. Tennessee residents might like to know about a case where a person owned two homes. In that case, a trustee wondered...
Chapter 7
Recent white paper analyzes bankruptcy for business owners
Owners of small businesses who face financial challenges have tough decisions to make. Do you try to negotiate with creditors to keep the business going? Or does it make sense to file bankruptcy - and if so, what type? A few months ago, we published a white paper...
Small business bankruptcy: know your options for moving forward
As a small business owner, you may be no stranger to financial struggles that threaten your business and perhaps even your personal assets. If you are in this situation, what alternatives there are to bankruptcy for getting debt relief? And if you do choose to file...
Time of property transfer can be a bankruptcy issue
Every Tennessee bankruptcy filing presents courts with unique circumstances to consider. A case between a dentist and a patient awarded a judgment for malpractice illustrates one of the problems that can arise between debtors and creditors. In this case before the...
Debt consolidation loans don’t work for everybody
Tennessee residents who have a lot of credit card debt might decide to take out a loan as a way to consolidate their debts, lower interest payments and get out of debt faster. While debt consolidation loans may help some debtors, such loans may cause others to get...
Getting credit card debt under control for retirees
Many retirees who are living in Tennessee struggle with high credit card debt balances. Among all U.S. households, the average credit card debt is $5,700. For people who are ages 65 and older, the average debt is $6,351. There are several things retirees can do to...
Considering bankruptcy? You may be able to keep more than you think.
Many people avoid bankruptcy because they think they will lose everything. However, the fact is that most individuals are able to keep many of their assets during bankruptcy by using an effective legal tool known as bankruptcy exemptions. Indeed, bankruptcy exemptions...
Signs that people need financial advice
Debt is one of the main reasons why Americans have a hard time savings. In fact, one in three Americans have nothing saved for retirement while 62 percent have less than $1,000 in a savings account. For Tennessee residents who are having trouble with their finances,...
Switching from high interest debt to low interest debt
Many Tennessee residents use credit cards to make purchases and then end up with a high credit card balance that they cannot afford to pay off. Because credit card debts have the highest interest rates of just about any form of obligation, it can be very difficult for...
If I file for bankruptcy, will I lose my home?
Many people fear that they will lose everything they own once they decide to file for bankruptcy. However, this belief is simply not true, especially in Tennessee. In fact, many people who file Chapter 7 bankruptcy are able to keep a great many of their assets, while...

