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Why health problems often lead to the need to file bankruptcy

Most people are aware that there is a medical debt crisis in this country. Millions of Americans have found themselves unable to provide for themselves and their families due to experiencing health problems that make it difficult, if not impossible to work. This leads to a lack of income, often a lack of insurance, and an inability to pay their medical and other bills. Hundreds of thousands of families across the country, including many here in Tennessee, file for bankruptcy every year due to unexpected health problems.

Tennessee bankruptcy: Memphis residents drowning in student debt

Millions of Americans have taken out student loans in order to pay for their higher education. While improving and advancing one's education is a noble cause, most people who take out loans to do so end up struggling to pay them off. According to a recent report, Memphis residents have a harder time paying down their student loans than people living in other cities. A bankruptcy law attorney may be able to help those struggling with these issues find debt solutions that fit their circumstances.

Will my bankruptcy repayment plan be affordable?

Tennessee residents who are looking at debt relief options want to make sure that any route they choose will actually be of benefit to them. Take Chapter 13 bankruptcy for example. With this type of bankruptcy, one will need to make payments to creditors over a certain time period before any remaining qualifying debts will be discharged. The repayment schedule is concerning to some people as they unsure if it is something that they will really be able to afford.

Tennessee bankruptcy: Fighting creditor harassment

People who are in debt already feel a massive weight on their shoulders. No one wants to carry debt and no one wants to struggle financially, but due to life challenges it just happens. When it does, creditor harassment can make the whole situation worse. Through bankruptcy or other legal means, Tennessee residents can fight creditor harassment.

Bankruptcy for out-of-control credit card debt

Numerous Tennessee residents use credit cards daily to cover their expenses. While there is nothing wrong with this, many of these individuals fail to pay their credit card bills off at the end of every month. This means that they are accruing significant interest by carrying balances on their cards. When let go for too long, this can bury them in serious debt. When credit card debt gets out of control, bankruptcy may offer debt relief.

Thinking about bankruptcy? Take the means test

When debt becomes too much for a person or family to handle, looking for relief from one's financial obligations is a normal thing to do. There are a lot of options out there, but which is the best? The answer to that question will be different for everyone. For Tennessee residents who think bankruptcy is the right way to go, taking a means test can help them figure out for which type of bankruptcy they may qualify.

Tennessee bankruptcy: What is overbiffing?

No one likes to deal with debt collectors. Their goal is to collect money. They do not care about the people they are collecting from, do not care if they are seeking the proper amount and do not care if they are harassing the wrong people. Individuals in Tennessee who are dealing with debt collectors and unfair debt collection practices may turn to a bankruptcy law attorney for assistance in seeking relief.

What do car accidents and bankruptcy have to do with each other?

Every year, numerous Tennessee residents are involved in automobile accidents. Those who are at fault may find themselves facing court costs, fines and having to pay restitution to victims. If this happens to you, failure to pay could cost you your driver's license. Bankruptcy may be able to help you with your debt obligations and allow you to keep your license.

Is Chapter 7 bankruptcy a good fit for me?

Every year, numerous Tennessee residents find themselves struggling financially, and every year many of these individuals find themselves looking into what debt relief options they may have. For some, bankruptcy may be what they need to regain control of their economic situations, but what form of bankruptcy? This week, this column will address Chapter 7 and its pros and cons.

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