Many families continue to struggle with lines of credit established years ago. Credit card debt is a serious concern, and changes at the level of the federal government can have implications for the average household. Families seeking to avoid past-due payments being turned over to debt collectors for further collection action need to understand both current laws regarding credit cards and how upcoming changes may affect their situation.
For many Americans, heavy debt can seem insurmountable. But there are options for debt relief. Filing for Chapter 7 bankruptcy may be a feasible solution for Tennessee residents who want to overcome a massive debt situation. Anyone considering personal bankruptcy should be aware of exactly what kinds of debt can be discharged, and by what means.
Debilitating workplace injuries can result in victims and their families losing their livelihoods or loved ones, but there are legal remedies that can be pursued. However, even when an accident victim is awarded significant compensation by a court, that person is not immune to bankruptcy further on down the road.
Generally, whether you are filing Chapter 7 or Chapter 13 bankruptcy, you are unable to discharge debts to the government, including taxes, court judgments and student loans. In a rare case, a bankruptcy judge wiped out $56,299 of student loan debt. The debt was an accumulation of interest and penalties on an original $16,900 loan a woman took out for an education she never completed.
While bankruptcy can give consumers a fresh financial start, it is important to have a clear understanding of how bankruptcy works, including the potential risks associated with bankruptcy. Here are five common myths about bankruptcy to give you a better understanding of the process and the consequences of filing Chapter 7 or Chapter 13 bankruptcy in Tennessee.
Struggling to manage a mortgage, bills, and unexpected costs can impact any family. Whether you are in a high-income earning tax bracket or you are unemployed, no one seems to be immune from the difficulties of managing finances in Tennessee and nationwide. A new study shows that eighty percent of consumers felt that their finances were out of control and in need of a major overhaul.
Many American families are facing foreclosure, but there are now efforts in Washington to help homeowners in Tennessee and other states across the country.
Sometimes the best laid plans go awry, and that appears to have been the case for an entrepreneur who recently opened the first electrified truck stop in the state of Tennessee.
For many companies, facing a business bankruptcy is one of their biggest fears. Not only is bankruptcy distressing and emotionally exhausting for the company and its employees, but it is also sometimes a murky process with no clear end in sight. When an Tennessee company faces a business bankruptcy, an experienced attorney may be able to help navigate the intimidating and confusing maze of the federal Bankruptcy Code.