No individual or business is immune to financial struggles and problem debt. Recent news about Remington Outdoor Company, the famous gun maker founded in 1816, filing for bankruptcy illustrates the point. Why does a 200-year-old company decide to address its debt...
Nashville, Tennessee, Bankruptcy Law Blog
Overcoming the barriers to bankruptcy
The number of people who file for bankruptcy in Tennessee and throughout the country tends to increase in March and April. Reportedly, this is because those who have thought about bankruptcy finally have the money they need to hire an attorney. While it is possible to...
Some misconceptions about bankruptcy and credit
When people in Tennessee file for bankruptcy, it does not necessarily mean they will be unable to rebuild their credit again. A Chapter 7 bankruptcy stays on the credit report for 10 years, but a Chapter 13 bankruptcy remains there for only seven. Furthermore, liens,...
American credit card debt on the rise
Americans, including Tennessee residents, are racking up a lot of debt according to a new report by WalletHub. In 2017, U.S. consumers accumulated $92.2 billion in credit card debt, which is the most in 10 years. They also added nearly $68 billion in credit card debt...
Debt, denial and bankruptcy: Johnny Depp’s spending (and yours)
Most of us would like to have more stuff, enjoy a more luxurious life and take nicer vacations, but there's one problem: We don't have enough money to get and do all the things we may want. Living beyond our means, whatever they may be, can lead us into serious...
Federal Reserve chair questions student debt bankruptcy policy
Tennessee residents who have ever received student loans for college may recall being warned that student loans must be paid even if the borrower ever declares bankruptcy. Though bankruptcy can dismiss other types of debt, student loans are banned from discharge. The...
Chapter 13 bankruptcy and vehicle ownership
Tennessee residents who have substantial debts may use the Chapter 13 bankruptcy process to address them if they have a regular source of income. This type of bankruptcy requires the court to approve a repayment plan that lasts either three or five years. If they own...
Medical debt may be challenging for everyone
For Tennessee residents and others across the country, medical debt is the most common reason to file for bankruptcy. Of those who have insurance and are under age 65, approximately 20 percent say that they have trouble paying medical costs. Although seniors are most...
Chapter 13 and mortgage arrears: How long before it’s serious?
Every homeowner wants to pay their mortgage on time. But things can happen to us that cause financial trouble and make it difficult to stay out of problem debt. Illness, divorce, job losses and business problems are examples of hardships that can lead to missed...
Remington announces bankruptcy plans
Tennessee residents have used firearms manufactured by Remington to hunt or protect their property for two centuries, but declining sales have placed the future of the North Carolina-based company in jeopardy. The Remington Outdoor Company announced on Feb. 12 that it...

