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September 2015 Archives

What can I do now to combat my growing credit card debt?


It is an unfortunate fact that often a Tennessee resident will not realize that his credit card debt is out of control until he has gotten a call from a collection agency. Once a person has maxed out his card and is unable to make minimum payments on it, there may be nothing that he can do on his own to get out from under the crushing burden of owing money to a credit card company. In such situations, legal debt relief processes like bankruptcy can help such individuals take control of their financial obligations.

Chapter 13 bankruptcy is not available for all parties


Bankruptcy law covers a myriad of different processes that individuals, both private and corporate, can use to protect themselves from the collection and repossession efforts of their creditors. Many Cleveland residents know that Chapter7 bankruptcy and Chapter 13 bankruptcy are the most common ways for individual, non-corporate parties to seek bankruptcy protections. However, these recognized forms of bankruptcy are not available to everyone and impose limitations on who may pursue them.

Can Chapter 7 bankruptcy help me save my home from foreclosure?


Bankruptcy is not a legal remedy that many Tennessee residents are excited to pursue. It can impose burdens on a person's ability to access credit and loans for many years after the proceedings are over. It can take a long time to complete and can force a filer to part with items of property that they may not want to lose. However, it offers some advantages to people who are faced with a different but equally as terrifying legal process: foreclosure.

A mortgage modification may be an alternative to bankruptcy


Even though it may seem like the national economy is rebounding, many Tennessee families live with the threat of foreclosure looming over their heads. Foreclosure is the process through which a lender, such as a bank or other loan holder, reclaims an unfulfilled and generally delinquent mortgage and presumably evicts the mortgage holder from the premises. Families lose homes through foreclosure, and many foreclosure processes are brought about due to unexpected financial expenses, losses of jobs and other monetary crises.