Chapter 7 bankruptcy can offer relief from many debts, but it does not eliminate all obligations. It is important to understand how ongoing alimony and child support payments are treated during bankruptcy. Alimony and child support are non-dischargeable Alimony and...
Chapter 7 bankruptcy provides a path to financial relief for individuals struggling with overwhelming debt in Tennessee. To qualify for Chapter 7 bankruptcy in Tennessee, you must meet specific criteria. Understanding the criteria for eligibility can help determine if...
Bankruptcy can be a smart way to get a fresh financial start. However, one thing some people wonder is whether it is possible for the process to get rid of all of your debt at once. In some cases, this can happen with Chapter 7 bankruptcy, depending on the type of...
A major fear many people have about Chapter 7 bankruptcy is that it will cause them to lose property to liquidation. In reality, bankruptcy is quite flexible, and Chapter 7 is not an exception. You may even keep property that creditors have a claim on. Secured...
Deciding to file for Chapter 7 bankruptcy is a significant step that will impact your financial future. This type of bankruptcy can offer a fresh start by discharging certain debts. Before moving forward, you should understand what Chapter 7 bankruptcy entails and how...
Navigating financial difficulties can be overwhelming. For some, filing for Chapter 7 bankruptcy becomes a viable option. However, before embarking on this path, individuals must undergo an evaluation known as the bankruptcy means test. This assessment determines...
Bankruptcy is a legal process that individuals may consider when they find themselves in overwhelming financial distress. The most common types of bankruptcy for individuals are Chapter 7 and Chapter 13. While both aim to provide relief from debt, they differ in...
In 2021, the U.S. Courts reported the closing of 511,666 consumer bankruptcy cases. Over half a million people sought the protection of bankruptcy, and if you are considering taking this step, it is important for you to know as much about it as possible. Knowing your...
During bankruptcy, debtors can seek discharge for various debts, releasing them from personal liability for specific financial obligations. Creditors also receive permanent restrictions from collecting payments for eligible debts when issued a discharge order. This...
Chapter 7 bankruptcy is a common form of debt relief. It involves liquidating nonexempt assets to pay off debts and granting a discharge for eligible debts. Usually, it is sought by individuals seeking a fresh financial start. But for married couples facing financial...
Richard Banks & Associates, P.C.
393 Broad Street Northwest
Cleveland, TN 37311
Toll Free: 866-596-8527
Phone: 423-219-3299
Fax: 423-478-1175
