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Posts tagged "Chapter 7 bankruptcy"

If you pay on your medical bills, will they go to collections?

If you are behind on medical bills, you may think that you'll never get out from under this debt. Medical bills can add up quickly and be hundreds or thousands of dollars. Even a single day in the hospital could end up costing you thousands before you meet your deductible.

Get back into control with a Chapter 7 bankruptcy

You've been working hard, but no matter what you do, it seems like you're never able to catch up on your bills. You're behind on rent, the electric bill, your car insurance and other bills that you have to pay to keep all the things you need.

A Chapter 7 bankruptcy can give you a fresh start

Whether it is because the economy is depressed or because you've lost your job, dealing with financial insecurity is frustrating and can have a serious effect on your life. You may have creditors and collections agencies calling at all hours. You may be worried about making ends meet and missing pay dates on important bills.

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.

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.

What is a wildcard in bankruptcy?

Chapter 7 bankruptcy might seem to some like a curse, but the reality is that it's an amazingly beneficial way to get out of debt fast if you meet the requirements to file. Chapter 7 bankruptcy got a bad name because of its liquidation aspect. Liquidation bankruptcy can ask that you give up some of your assets. Those assets are then sold to try to pay back your creditors.

Inaction may still cause trouble in bankruptcy

One of the long-standing rules of bankruptcy law is that the automatic stay prevents creditors from taking steps to enforce the debts owed to them. In other words, they must do nothing once the debtor files for bankruptcy. However, doing nothing can also get a creditor in trouble in Tennessee if they have already begun a collection action before the bankruptcy was filed and they take no steps to halt the collection action.

Filing for bankruptcy under Chapter 7

Many consumers in Tennessee and throughout the country find themselves overwhelmed by their mounting financial obligations. Whether it is due to credit card usage, predatory payday or auto title loans, medical bills, or an unexpected job loss, some people may wonder what forms of debt relief might be available.

Student loan debt discharged in bankruptcy case

Many people in Tennessee have student loan debt that they cannot afford to pay back. On Jan. 7, a bankruptcy judge ruled that a former law student with over $220,000 in unpaid student loan debt could have his debt discharged. The 46-year-old lawyer was a 2004 graduate of Cardozo Law School in New York, and he represented himself in court.