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bankruptcy Archives

Bankruptcy may be able to help prevent or stop wage garnishment

Bankruptcy can help with a variety of concerns struggling consumers may have including. One of those concerns is wage garnishment which, in addition to being stressful, can make it more difficult for struggling consumers to repay their debts as they work towards paying their bills and reducing what they owe.

What is the difference between exempt and non-exempt property?

If you have considered filing for Chapter 7 bankruptcy, you may have heard about bankruptcy exemptions and wondered what they refer to. Bankruptcy exemptions are a way of protecting property during the Chapter 7 bankruptcy process and allowing the filing party to keep some of their property following the bankruptcy process.

Personal bankruptcy help for struggling consumers

Personal bankruptcy protections can help in many different ways. Personal bankruptcy options can help struggling consumers with medical debt or struggling homeowners with foreclosure concerns. Personal bankruptcy options can help with a variety of the most pressing concerns struggling consumers likely have and need help with.

Payless shoe stores liquidating and closing in Tennessee

Different bankruptcy resources can help both struggling businesses and consumers. Several Payless shoe stores will soon close their doors in Tennessee after the retailer announced recently that it will close all of its stores in the U.S. The shoe chain is expected to file for Chapter 7 liquidation bankruptcy later in the month. Nearly 30 of the 2,700 Payless stores in the United States are located in Tennessee. The shoe chain decided to liquidate after it was unable to find a buyer for the chain.

Bankruptcy protections can help struggling consumers

When home and car owners fall behind in mortgage and car payments, the fear, stress and anxiety can be overwhelming. Overwhelming debt can be difficult for struggling consumers to face each day which is why they should at least be familiar with legal protections and options available to them.

How bankruptcy can help with foreclosure

The possibility of looming foreclosure may be one of the concerns that weights most highly on the minds of those struggling with overwhelming amounts of debt. It is important for anyone who finds themselves in that situation to be familiar with the different options that might help, including bankruptcy.

National bankruptcies dip but Tennessee filings remain high

Bankruptcy filings continue to decline, however, bankruptcy filings in Tennessee continue to remain amongst the highest per capita for bankruptcy filings in the nation. Throughout last year, Tennessee was second in the highest number of per capita bankruptcy filings. The American bankruptcy Institute reported that bankruptcy filings for 2018 continued to decline overall for the ninth consecutive year but the bankruptcy rate in Tennessee was the second highest in the country.

How do I know if I qualify for bankruptcy?

Qualifying for bankruptcy is important for struggling consumers considering filing for bankruptcy protection to understand. First, it is important to note that here are generally two types of personal bankruptcy protection including Chapter 7 bankruptcy protection and Chapter 13 bankruptcy protection.

Making the best bankruptcy decision for the situation

There are different types of personal bankruptcy options available for individuals in different situations. It is helpful to understand Chapter 7 versus Chapter 13 bankruptcy options so the struggling consumer can select the best option for their situation and needs.