Financial challenges can force Tennessee residents to file for bankruptcy. The decision to file for bankruptcy should be made very carefully because while you'll be able to eliminate debt quickly, you'll likely have to part with your assets, especially your most important one - your home. Fortunately, we can help you keep your home - even up to the last minute - before it is sold in a foreclosure auction.
For Tennessee consumers, filing for bankruptcy is a difficult decision. But for those drowning in debt, it's the only option for relief. After making the choice to file, the next question is: Chapter 7 or Chapter 13? Both offer many benefits, but they do have disadvantages as well. Learn more about Chapter 13 bankruptcy and why it's a good choice for many consumers struggling with credit card debt.
Before filing for bankruptcy, Tennessee residents must attend counseling. This counseling is mandatory because it allows a credit counselor to assess a person's situation and see if bankruptcy is the right option. Plus, it makes sure that the person understands the ramifications of bankruptcy and will work to prevent it from happening again.
Many Tennessee consumers are facing financial challenges; just check the amount of credit card debt they carry. It's not uncommon for many to pay interest rates of 20 percent or more, making it difficult to pay down these debts. So when a tempting balance transfer offer comes along -- offering 0 percent interest for 6, 12 or even 18 months -- it's hard to say no. Although a balance transfer can offer benefits, it can also have an opposite effect and cause a consumer to sink even deeper into credit card debt. Find out which mistakes to avoid in order to use such an offer to one's advantage.