URGENT UPDATE: Due to COVID-19, We Can Now File Your Bankruptcy Over The Phone With $0 Down Options. No Office Visit Required. Call (423) 479-4188. FREE CONSULTATION. Open Monday – Friday from 8:00 AM – 5:00 PM.

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

May 2020 Archives

If you're struggling, it might be time to consider bankruptcy

You've been working hard to stay out of debt and to make sure you can pay your bills, but the debts have really piled up. You tried not to add to it, but you've found that your interest rate is making your debt grow even though you're paying the minimum payments each month.

Exemptions can help protect your assets during bankruptcy

Chapter 7 bankruptcies can be great for those who are in debt and who have no disposable income to pay down what they owe. Some people worry about filing for this form of bankruptcy due to the belief that it may leave them with nothing. However, despite the fact that assets may be liquidated during a Chapter 7 bankruptcy, there are actually many exemptions.

Why a balance transfer card may not be the optimal choice for you

People deal with their debt in many ways, and the right approach for you depends on the type of debt you owe and other details of your financial situation. Credit card debt is a common problem for many in Tennessee, and sometimes, these balances accumulate because of factors beyond your control. For example, you may have a lot of credit card debt because you lost your job and were unable to pay for things in full. 

Don't struggle from paycheck to paycheck. Bankruptcy could help

When you were trying to check out at the grocery store, you were embarrassed to have your card say it didn't have enough money to pay for your purchase. You had just been paid that day, and you should have had enough. Unfortunately, everything else you owed had come out, too. When you were able to check your accounts, you found you'd actually overdrafted already.