Tennessee residents who are thinking about filing for bankruptcy should be aware that there are several procedures that must be followed. A bankruptcy court has ruled that five debtors in California altered their Chapter 13 bankruptcy model plans in a manner that...
Nashville, Tennessee, Bankruptcy Law Blog
Commercial bankruptcies soar in September
According to numbers recently reported by the American Bankruptcy Institute (ABI), there were 38 percent more commercial bankruptcy filings in September when compared to the same month just one year ago. Unfortunately, this one-month spike is not an anomaly. In fact,...
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...
Bankruptcy: One of the best ways to eliminate credit card debt
There is no doubt about it; credit card debt is growing. In fact, some projections show that total credit card debt in the U.S. will hit the $1 trillion mark for the first time by the end of the year. However, regardless of the reason why you racked up your credit...
Holding on to credit card debt means losing money on interest
Tennessee residents may know that credit card debt is a problem for many people. Big balances combined with high-interest rates can lead to financial difficulties, especially if a sudden illness or job loss should arise. On average, Americans carry over $5,000 in...
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...
Can bankruptcy be used to eliminate student loans?
One of the most common questions we get from college graduates is whether or not student loans can be discharged and eliminated through bankruptcy. It's no wonder why this is such an important question, especially when you consider that tuition rates and student loan...
Court finds that attorney fees were domestic support obligation
Tennessee residents who are preparing to file for Chapter 13 bankruptcy and who owe domestic support obligations may want to know about a decision out of the U.S. Court of Appeals for the 7th Circuit. The case involved a debtor who was ordered to pay $25,000 to his...
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,...
5 things you should avoid if considering a business bankruptcy
For many business owners struggling with debt, bankruptcy provides the best - and often only - solution for keeping their businesses afloat. However, while a Chapter 11 bankruptcy may be your best option, it is important to remember that, during the time leading up to...

