Unfortunately, many people can end up with medical bills and credit card bills and be trapped in a vicious cycle of both. Fortunately, personal bankruptcy options can help with these forms of unsecured debt.
Making the best bankruptcy decision for the situation
There are different types of personal bankruptcy options available for individuals in different situations. It is helpful to understand Chapter 7 versus Chapter 13 bankruptcy options so the struggling consumer can select the best option for their situation and needs.
A closer look at Chapter 7 bankruptcy protections
The importance of Chapter 7 bankruptcy exemptions cannot be overstated for individuals filing for Chapter 7 bankruptcy protection. Chapter 7 bankruptcy is referred to as a liquidation bankruptcy option, however, some categories of property may be exempted from the process.
How to get relief from wage garnishment
Wage garnishment can add pressure and stress to a situation that is already trying. Wage garnishment can put the struggling consumer even further behind as they were attempting to get caught up on their bills and obligations.
Foreclosure and bankruptcy; things to know
This blog recently discussed homestead protections during the bankruptcy process in Tennessee. An issue that may be of significant concern for parties facing overwhelming debt and the possible loss of their family home is the relationship between foreclosure and the bankruptcy process which is why it is important to understand.
How the automatic stay during bankruptcy can help
This blog recently discussed some of the benefits of an automatic stay in bankruptcy. The automatic stay is an important part of any bankruptcy filing to understand because it prevents creditor collection actions during the bankruptcy process and can help protect the filing party and provide a little breathing room for the filing party facing overwhelming debt.
What is a bankruptcy discharge?
The bankruptcy discharge is an important part of the bankruptcy process which makes it important for a party filing for bankruptcy to understand. In essence, the bankruptcy discharge is the part of the bankruptcy process that provides debt relief and a fresh financial start to the party seeking personal bankruptcy protection.
Understanding the automatic stay in personal bankruptcy
Regardless of what type of personal bankruptcy the filing party selects, the automatic stay is an important part of the bankruptcy process for them to understand. Both Chapter 7 and Chapter 13 personal bankruptcy protections trigger an automatic stay of collection actions which can be helpful to struggling consumers.
Bankruptcy protections for older Tennesseans
This blog recently discussed the increasing need seniors may have for bankruptcy protections and options to help them with the different types of debt they may be facing. It might be helpful to take a closer look at how this trend is impacting older Tennesseans and the options available to them if they need help.
Bankruptcy options provide protection when behind on bills
Because debt and debt-related stress can be a significant burden, taking care of debt can be a significant life step for anyone who has been struggling with overwhelming debt for some time. Especially for those facing medical bills, or may be facing other everyday financial struggles that have gotten out of hand and have resulted in the use of credit cards, understanding how they might enjoy debt relief can be significant.
