Tennessee residents who have medical, credit card or any other type of debt that can be discharged through bankruptcy should file as soon a possible. This is also true for those who have a debt-to-income ratio that is higher than 40 percent. The longer a person waits...
Nashville, Tennessee, Bankruptcy Law Blog
What to know about filing for Chapter 13 bankruptcy
When an individual in Tennessee is struggling to pay his or her debt, it may be possible to file for Chapter 13 bankruptcy. Debts are repaid according to a plan approved by the court, and a plan must be submitted within 15 days of filing for bankruptcy. A judge will...
How to purchase a vehicle while in Chapter 13 bankruptcy
When Tennessee residents file for Chapter 13 bankruptcy, they are given either three or five years to complete the repayment program. During this length of time, it is common for someone to need a new vehicle. Fortunately, it is possible to finance a new car while...
When bankruptcy meets music: Gibson guitars files for Chapter 11
Nashville is known throughout the world as Music City because of the incredible proliferation of live and recorded musical artistry that has taken root and thrived here. While the music itself is alive and well, many Nashville businesses struggle with financial...
Understanding Bankruptcy
In 2015, Tennessee had the highest rate of bankruptcy filings in the nation; as a matter of fact, the number of filings there was twice the national average. Ergo, the citizens of this fine state are no strangers to the terror that comes with the possibility of not...
Bankruptcy pros and cons: How much can I discharge in Chapter 7?
Living in serious debt can be an incredibly stressful experience. With the powerless feeling of not being able to pay your bills and the constant harassment from creditors, it can seem like a nightmare from which you can't wake up. Enter Chapter 7. For consumers who...
Defaults increase for store credit card payments
For many people in Nashville, store-brand credit cards have led to debt that is increasingly difficult to manage. Delinquency rates on these types of cards have reached their highest level in seven years, according to Equifax, the credit reporting agency. The...
Individuals can file for Chapter 11 bankruptcy, just like 50 Cent
Most people think of Chapter 11 bankruptcy as a corporate vehicle, a way for companies to reorganize their debts and stay in existence. But did you know that people can file under Chapter 11? As rapper, entrepreneur and actor 50 Cent (officially known as Curtis...
Student loan debt and bankruptcy: What is “undue hardship”?
If you're struggling to make your student loan payments, you have something in common with millions of other Americans. Even if you have a decent job, your student loans may be getting in the way of your ability to pay for necessities like housing, transportation and...
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...

