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...
Nashville, Tennessee, Bankruptcy Law Blog
Recent business bankruptcies show anyone can struggle with debt
Though we're not far into 2019, there have already been a slew of bankruptcy-related announcements this year concerning large companies. Many large businesses have struggled mightily to keep their heads above water. These bankruptcy filings (and rumblings about...
Post-bankruptcy success stories: Celebrities who bounced back
Many of us are familiar with the stories of famous people who got rich and then seemingly "lost it all," declaring bankruptcy and tanking financially. Some of the best known are entertainers, business leaders and politicians. But how much do we know about the ones who...
Americans under 30 owe $1 trillion to creditors
Those between the ages of 18 and 29 owe $1.05 trillion to creditors. Tennessee residents and others in this age group have student loan, credit card and auto loan balances in addition to other types of debt. However, they owe less overall than other age groups. Those...
Stress and money problems: What debt can do to the body and mind
We all know that being in debt isn't fun. And most of us understand that prolonged financial problems can put great stress on us and our families. But what, specifically, does that stress DO to us psychologically and physiologically? It's a tough question without easy...
Do scary foreclosure letters mean that you’ll lose your home?
If you are more than a month behind on your mortgage payments, you have likely received a barrage of scary letters from your mortgage servicer. Maybe you're behind because of an income loss -- a layoff, a decrease in your pay or a bad stretch for your business,...
Vehicle repossession and filing for bankruptcy
Some people in Tennessee who are facing repossession of their vehicles might consider filing for Chapter 13 bankruptcy. This would potentially allow them to restructure a payment plan and keep the vehicle. However, there may be other alternatives that the person can...
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...
Reasons to consider bankruptcy as opposed to foreclosure
If a Tennessee resident is struggling to keep up with a mortgage payment, it may be possible to ask for a loan modification. However, there is no guarantee that a lender will allow this to happen. If a lender does not want to modify the terms of a home loan, a...
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...

