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.

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

September 2020 Archives

Bankruptcy statistics: Bankruptcies have fallen this year

Bankruptcies are sometimes seen as a last resort and something that people try to avoid at all costs. They are almost seen like an evil in this society, even though bankruptcy laws are a helpful protection for both consumers and businesses. They're actually very common.

If you want to save your home, try Chapter 13 bankruptcy

Many times, people begin to look into bankruptcy only when they realize that they could lose their homes. When it's only creditors calling about medical bills or credit card debts, it may not seem like there is much to lose. However, when it's your home on the line, the reality of the situation may finally set in.

What can bankruptcy do to get your finances back on track?

When you think about a bankruptcy, what do you see? Do you imagine collectors coming and taking away your assets, leaving you with nothing? The reality is much less terrifying. The myths that surround bankruptcy have made it seem like it's a situation where people lose everything they've worked so hard for, but the truth could not be further from that idea.

Bankruptcy: The means test will help determine your eligibility

This year has been financially challenging for many Tennessee residents as well as others throughout the country. Perhaps, you or your family member unexpectedly faced unemployment and were unable to find a new job. Maybe someone in your household had to undergo surgery or was treated for a chronic health condition. Medical care is expensive, even if you have insurance. When you can no longer make ends meet and your debt seems to be getting out of hand, bankruptcy can be valuable financial tool.