Category: Chapter 7

Fear often prevents one from taking action. Yet, by not taking action, the problem remains and the fear and stress associated with it continues to build. The fear associated with filing for Chapter 7 bankruptcy often causes the Tennessee resident to continue sinking deeper in debt rather than taking a step forward and beginning the

If you have missed a series of payments resulting in delinquent accounts, then you understand just how persistent creditors can be in demanding payments on your debts. That being said, a progression of time or lack of communication with the creditors does not make them go away. After tirelessly calling without a resolution, most creditors

Bankruptcies have fallen to a 10-year low in Tennessee, but the state still leads the nation in bankruptcy overall. A Jan. 15 report states that Chattanooga saw the lowest number of bankruptcies in over a decade while local foreclosures also hit the lowest numbers since 2000. Despite this, Tennessee still leads the country for the

If you’re considering bankruptcy, you know that there are upsides and downsides to filing. A bankruptcy can give you a new start, but it can also impact your credit. Is it a good idea? Here are some pros and cons to consider. What are some benefits of Chapter 7 bankruptcy? A bankruptcy will stay on

A Chapter 7 bankruptcy can change your life, and although it may seem negative at first, that change can be a positive influence on your financial future. A Chapter 7 bankruptcy allows you to liquidate assets to pay off your debts, and there are protections in place to help you keep things like a much-needed

If money is tight and you’re falling behind on debts, then you may be considering bankruptcy. Before you can be approved, you need to take a bankruptcy means test to make sure you’ll be able to apply. What is the bankruptcy means test? The bankruptcy means test determines if you can enter into Chapter 7

Chapter 13 and 7 bankruptcies are different in a few ways. For instance, Chapter 7 bankruptcy is known as liquidation bankruptcy, because you must liquidate many of your assets during the process. Chapter 13 works differently, because you make a payment plan with your creditors. That allows you to keep your assets while paying down

Chapter 7 bankruptcy is a type of bankruptcy most commonly heard about and referred to when you consider what bankruptcy is. However, it’s not the only type. In fact, Chapter 7 is just one of many kinds, from Chapter 11 to 13 or others. Chapter 7 bankruptcy is liquidation bankruptcy. There are pros and cons

Are there any good reasons to file for Chapter 7 bankruptcy instead of Chapter 13? Your attorney may have spoken to you about the differences in the bankruptcy types, and knowing that Chapter 7 bankruptcy is liquidation bankruptcy may make you fear that you’ll lose out. The truth is that Chapter 7 bankruptcy can be