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.
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.
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.
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.
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.
Retirement years are supposed to be filled with family time and relaxing. They are supposed to be the years people enjoy after putting their time in the workforce. Unfortunately, many seniors in Tennessee and across the country are not spending their golden years the way they had hoped. Instead, many are returning to work so that they can pay off debt. For some financially struggling seniors, bankruptcy may provide the relief they need.
The "golden years" may not seem so golden to many Tennessee seniors and others around the nation. When there are constant worries about how to make ends meet, it is difficult to fully enjoy one's retirement. Many have worked tirelessly their entire lives yet find themselves struggling financially. This can particularly be the case if unforeseen medical expenses occur. Reports show that the number of older consumers filing for bankruptcy has increased dramatically over the past two decades.
When creditors fail to get paid, they may choose to take the matter to court in order to seek payment. If they are successful, a judge may order wage garnishment or a levy, which gives your creditor the right to take your money and/or your property. In Tennessee, you may be able to stop your creditor by filing for bankruptcy and/or property exemption.
No one wants to seek help with finances unless it is really needed. Nobody wants to make one's economic situation worse than it already is. Some people in Tennessee and elsewhere seem to think that bankruptcy is the worst thing they can do for themselves when they are already struggling financially, but the truth is it can help. Utilizing this form of debt relief has been a positive experience for many consumers struggling with their finances.
Tennessee residents who find themselves is a bad economic way may wonder what debt relief options are open to them. Truthfully, there are several ways to attack financial struggles. For some individuals, bankruptcy may be the best fit. There are two types of personal bankruptcy: Chapter 7 and Chapter 13. This week's column will address the basics of Chapter 13 bankruptcy.