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February 2016 Archives

Court denies debtors chance to switch out of Chapter 7 bankruptcy

Even after a personal bankruptcy action is filed, a debtor may have the chance to change the form of bankruptcy he is pursuing. This is called a conversion, and Tennessee residents who file for Chapter 7 bankruptcy can sometimes convert their cases to Chapter 13 cases. Recently, an out-of-state couple that filed for Chapter 7 bankruptcy attempted to change its case to Chapter 13 bankruptcy and had its request denied, even though the law apparently said that it had the right to do so.

Bankruptcy claims lodged during presidential debate

This year, Tennessee residents will participate in a national election to choose the next leader of the country. Over the last few months, Republican and Democratic candidates for the presidency have engaged in heated debates about issues that are important to local residents as well as the country as a whole. In the most recent debate between Republican hopefuls, one candidate was forced to discuss his involvement in the bankruptcy process.

Chapter 7 bankruptcy may halt wage garnishment actions

Wage garnishments can occur when Tennessee residents fall behind on certain types of payments to their creditors. In particular, payments that are ordered by courts and those that are mandated by the government, such as taxes, can be repaid through garnishments. Though there are laws regarding how much of a person's income may be taken through wage garnishment for the purposes of repaying these obligations, Chapter 7 bankruptcy offers some individuals a way to halt wage garnishment actions before they even commence.

Americans have varying perceptions about credit card debt

The United States is a large country and its different regions offer individuals different cultures and social climates. For example, the East Coast is often believed to be more fast-paced than the West Coast, which carries with it perceptions of laid-back living. The Midwest and its residents have a reputation for being friendly, and the South is known for its hospitality and charm. What readers of this Tennessee bankruptcy law blog may not know is that these regional attitudes are not only applicable toward style of living but also to how people feel about money and debts.