In a Chapter 13 bankruptcy, the trustee plays a crucial role in managing the debtor's repayment plan. Understanding what a trustee does can help those navigating this process feel more informed and prepared. Reviewing and approving the repayment plan The trustee...
People sometimes call Chapter 13 bankruptcy a wage earner's plan. The goal is to help someone with a reasonable income and valuable property take control over frustrating financial challenges. Instead of liquidating certain assets before quickly discharging their...
Credit card companies can garnish your wages if you fail to pay your debt. However, they cannot do this without first taking certain legal steps. How wage garnishment works Before a credit card company can garnish your wages, they must file a lawsuit against you. If...
Facing foreclosure can be a daunting experience for homeowners, but there are legal options that can provide relief. Bankruptcy is one such option that offers a way to temporarily halt foreclosure proceedings. Chapter 7 bankruptcy When homeowners file for Chapter 7...
Filing for personal bankruptcy is never an easy decision. Most people prefer to address their financial struggles without involving the courts. They hope to adjust their budgets or increase their income to regain control over their current debt-related challenges....
Chapter 13 bankruptcy allows individuals to reorganize their debts while keeping their assets. If you hold or seek a professional license, it is important to understand how bankruptcy could affect your professional standing. Knowing these potential impacts can help...
After filing for bankruptcy in Tennessee, you might feel a mix of relief and concern. Bankruptcy provides a fresh start, but the challenge lies in maintaining your finances to avoid future debt issues. Taking proactive steps can help you manage your finances...
Medical debt is a significant burden for many Americans. In 2020, U.S. health care spending reached $4.1 trillion, with individuals spending an average of $12,530 on medical care. Nearly one in five households couldn’t afford medical care when needed, according to a...
If you are considering bankruptcy, you might worry about its effects on your co-signers. Bankruptcy laws are designed to offer a fresh start to the filer and can sometimes extend protections to co-signers. Knowing these protections can help you navigate your...
Personal transportation is essential for most modern adults. They need a vehicle to get to and from work and to take care of their families. Without a vehicle, people become dependent either on public transportation or cost-prohibitive rideshare services....
