Richard Banks & Associates, P.C.
free consultations
local: 423-244-0009
toll free: 866-596-8527
Practice Areas

April 2018 Archives

How Chapter 13 bankruptcy can help reorganize debt

Chapter 13 bankruptcy is a personal bankruptcy option that allows the filing party to reorganize their debt into a manageable repayment plan that allows them to repay debts and enjoy relief from the stresses associated with overwhelming debt. Chapter 13 bankruptcy is referred to as a reorganization bankruptcy option and shares some similarities to other personal bankruptcy options but also differs in certain areas which is why it is important to understand.

You do not need to be ashamed of filing for bankruptcy

In previous posts, we brought up the different myths associated with bankruptcy and how many people in Tennessee and elsewhere hesitate to file because they are worried how a personal bankruptcy could impact their credit or affect future loans. You may also worry about the emotional side of a bankruptcy.

What are bankruptcy exemptions?

This blog recently discussed Chapter 7 bankruptcy and the benefits of chapter 7 bankruptcy. One important aspect of Chapter 7 bankruptcy, often referred to as a liquidation bankruptcy, is that it is not intended to force the filing party to start all over again with nothing. When filing for Chapter 7 bankruptcy protection, it is important for the filing party to also be familiar with bankruptcy exemptions and the protections they afford.

Chapter 7 bankruptcy can help with a fresh financial start

Chapter 7 bankruptcy is an important tool for individuals struggling with overwhelming debt to be familiar with. There are certain requirements to qualify so individuals considering filing for Chapter 7 bankruptcy should be familiar with what those requirements are and, in general, with the Chapter 7 bankruptcy process and how it works.

The myths of bankruptcy shouldn't scare you away

When someone is considering bankruptcy, there will be many fears that run through their head. Are they going to lose all of their possessions? Will they ever recover from the bankruptcy? Will their credit be forever ruined? Will I ever get the chance to secure new lines of credit again?