Bankruptcy has been able to help some Tennessee residents get a fresh start financially, allowing them to save money and avoid taxes on discharged debt. However, it is not always the best move for everyone and certain precautions need to be taken. One thing that a...
Nashville, Tennessee, Bankruptcy Law Blog
The 4 key advantages of Chapter 7 bankruptcy
As an individual facing mounds of debt, Chapter 7 bankruptcy may be the best way to regain control of your financial life. Understanding the advantages of Chapter 7 bankruptcy, as compared to other options, allows you to make an informed decision on what to do next....
Debt consolidation: A viable solution to your financial problems?
Debt has a way of piling up over time, even if you have a sound financial plan in place for maintaining stability. When this happens, you may come to find that your debt is difficult to manage and a challenge to keep up with. While consolidation isn't the right...
There are no easy decisions in bankruptcy considerations
Debt has become a constant companion for most Tennessee residents. Hopefully, 'good" debt is used as leverage to further advance economic interests and 'bad" debt is minimized and managed only as a tool of last resort. Unfortunately, unexpected circumstances can occur...
Credit card debt settlement: You have options
If you're drowning in credit card debt and struggling to find a solution, it may be time to contact your credit card company to discuss your situation. While not available to every consumer with debt, there may be a settlement option that works well for both parties....
How to negotiate medical bills
Even if you have comprehensive health insurance coverage, you could still find yourself bogged down by a large amount of medical debt. Rather than panic and assume that you have to pay all the money at once, there's another option to consider: Negotiate medical debt...
How bankruptcy impacts credit scores
Tennessee residents who are struggling to pay their bills are sometimes reluctant to file for bankruptcy because of fears over what it could do to their credit scores. A Chapter 7 bankruptcy will remain on credit reports for up to 10 years and a Chapter 13 bankruptcy...
The power of the automatic stay in a bankruptcy case
Filing for bankruptcy in Tennessee may put a stop to a foreclosure or repossession. It could also prevent utilities from being shut off or a landlord from evicting a tenant. The automatic stay can also put a stop to wage garnishment, which would allow an individual to...
Credit card balances increasing throughout America
Those who live in Tennessee have the 17th highest average household credit card balances in the United States. Households in California owe an average of $10,175 in credit card debt, which is the highest in the United States. During the second quarter of 2019, the...
Could filing bankruptcy improve your business?
Many entrepreneurs struggle with managing the financial stress of running a business. It often takes a tremendous amount of resources to get a company off the ground. And maintaining an online presence, satisfying customer needs and purchasing supplies can create a...