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May 2015 Archives

Dealing with bankruptcy in the midst of a divorce

Bankruptcy often happens during one of life's most expensive actions: divorce. As Tennessee couples end their marriage and split assets, they may find it extremely challenging to go from two incomes to one while still trying to maintain a household. They may find themselves facing financial challenges while having to worry about common divorce legal issues such as child support and alimony. While divorce and bankruptcy at the same time may seem too overwhelming for someone to take on, a bankruptcy can provide many benefits if debt is becoming too much to bear.

I have a lot of credit card debt. What are my rights as a debtor?

Economic struggles can cause Tennessee consumers to experience financial challenges. Reduced income can make it difficult to stay on top of credit card payments. This can lead to creditor harassment, which cannot only be embarrassing, but annoying as well. Creditors may try to do some shady things - such as making threats or calling in the middle of the night - but despite your situation, you do have rights as a debtor. There are some things creditors can and cannot do to get you to pay your credit card debt.

Home ownership can still be a reality after bankruptcy

Bankruptcy can leave a derogatory mark on one's credit score 10 years, but that doesn't mean that Tennessee residents that have filed to escape their debt have to wait a decade in order to purchase a home. Home ownership is possible a few years after a bankruptcy, but only if a consumer is dedicated enough to properly plan, save and budget his or her money in order to prevent future financial challenges from occurring. Here are some tips for buying a home after bankruptcy.

Business bankruptcy for small companies with debt

Many Tennessee residents dream of escaping the corporate world and starting their own business. Nothing, they assume, could be more satisfying that working for yourself. While some entrepreneurs are able to create, grow and maintain successful businesses, the reality is that many fail in the first year. Running a business is a costly endeavor, and coupled with extreme competition, many companies are poised for failure. Bills pile up, and before you know it, you're drowning in debt. Fortunately, there may be a solution for your overwhelming debt.

What does the bankruptcy process entail?

Many Tennessee residents become overwhelmed with credit card debt. When they can't keep up with the monthly payments, they may choose bankruptcy. Many people are aware of what bankruptcy does, but don't really understand how it works. Read on to find out what the process entails.

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