Are you considering a bankruptcy filing? Are you interested in learning more about what this entails? If so, you should know that many of the official bankruptcy forms currently in use are being replaced with an effective date of December 1, 2015.
It can be difficult to decide for or against a Chapter 7 bankruptcy filing. There is a lot that goes into this decision, and you don't want to make the wrong choice as it could negatively impact you and your finances for many years to come.
If you are interested in filing for Chapter 7 bankruptcy, there are some things you need to know. Most importantly, you may not qualify for this type of bankruptcy. This is often the case if you earn too much money.
Filing for Chapter 7 bankruptcy does not necessarily mean the end of your debts. Indeed, some debts cannot be touched by Tennessee bankruptcy proceedings. This article will discuss those debts and what you will still be responsible for paying off coming out of successful Chapter 7 proceedings.
If you are overwhelmed by debt and are thinking about filing for bankruptcy, you may be wondering which, if any, of your debts can be discharged. The good news is that most debts, including medical bills and credit card debt, can be wiped clean by Chapter 7 bankruptcy.
Every case is different, and so that means there is no set amount of time that it takes to file for Chapter 7 bankruptcy in Tennessee. However, there are some key averages and things you can expect if you're going to file, and your case should roughly fall into these parameters. It's good to know what you're in for before you begin.
Many people in Tennessee are eligible for Chapter 7 bankruptcy if they'd like to use it, but there are a few things that could make you or your debt ineligible. It's important to note what these things are so that you know if you can file or not.
A man who is now living in Jackson, Tennessee, is fighting in court to keep from having to pay around $1.3 million for a loan that he took out for $800,000. He took that business loan out before the recession, using it to help his trucking company, but he had to declare bankruptcy when the economy declined.
Are you facing a lot of student loan debt in Tennessee? Many students are, and you may be looking for a way out. Chapter 7 bankruptcy is a type of bankruptcy also known as liquidation that erases debt after assets are sold. So, can you use this to get rid of your student debt?
Filing for bankruptcy protection can be a very big decision and it is one that should not be made lightly. Bankruptcy is a very effective -- but still very aggressive -- way to handle unmanageable debt and it will have a long-term impact on your financial goals.