In recent years, many Tennesseans have faced unemployment and other financial challenges. When this goes on for an extended period of time, it can force a person to file for bankruptcy. When a person is behind on vehicle payments, the next step is repossession. Nobody wants their car taken away, but fortunately, with quick action, there are ways to stop repossession and keep your car, TV, computer, appliances and other valuable possessions.
Many Cleveland, Tennessee, residents have had to deal with major financial issues. Unemployment and unexpected medical bills can happen to anyone, at any time. Some people have an emergency fund to help them through these difficult times. Many, however, are not prepared to deal with these unexpected life changes. They end up with unpaid bills and mounting credit card debt. Even if they have jobs that provide regular income, paying off these debts can prove extremely difficult. As a last resort, consumers turn to bankruptcy.
Sometimes Tennessee residents face financial challenges, whether through a job loss, unexpected expenses or overspending. This can cause overwhelming debt, which can lead to harassing phone calls from creditors. When it becomes impossible to stay afloat financially, many consumers turn to bankruptcy for relief. There are two options to choose from: Chapter 7 bankruptcy and Chapter 13 bankruptcy. Which one is right for your situation?
Different options are available through the legal system to help individuals eliminate debt and enjoy a fresh financial start.