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October 2015 Archives

Who is involved in a repayment plan under Chapter 13 bankruptcy?

Several parties may be involved when a Tennessee resident chooses to submit a repayment plan under a Chapter 13 bankruptcy filing. The debtor, of course, must commit to providing periodic payments toward the satisfaction of the person's full or reduced debts. The debtor's creditors must be prepared to accept those payments and apply them toward the amounts they agreed to accept during the bankruptcy process. However, there is often a middle man, called a trustee, who handles the passage of payments from debtor to creditors in the Chapter 13 bankruptcy process.

Common sense ways to protect one's credit card accounts

When Tennessee residents overspend on people's credit cards they can find themselves facing overwhelming debt. However, there is another way that a person may find a high balance affecting his available credit. The use or misuse of a person's credit card by another person may result in an individual becoming liable for credit card debts that the person did not personally incur.

Is commercial bankruptcy right for a struggling business?

Tennessee business owners may consider filing for bankruptcy when their businesses fall on difficult financial times. Whether their money troubles are sudden or long-term, different business owners may have different feelings about what is right for their businesses. There are many important considerations that business owners should make before filing for commercial bankruptcy and that may help them decide if bankruptcy is the right path for their businesses.

Chapter 7 bankruptcy is an option for managing your debt

Bankruptcy is a scary word for many Tennessee residents. It can imply a loss of control over one's debts or a complete collapse of one's financial health. It can be a long process that not every person who qualifies for it will want to endure. It can require a person to relinquish control over his money and trust in a system that should ultimately render him on solid financial footing.

Bankruptcy court seeks to claw back student tuition money

Many parents help their kids pay for college. Whether they are able to pay out of savings, take out equity against their property or secure federal and private loans, some Tennessee parents are willing to put their financial health on the line in order to give their kids a chance at pursuing higher education. It may not seem like if a parent pursues bankruptcy that the money they pay for their kids' educations should be pursuable by bankruptcy courts, but in some cases, bankruptcy courts are trying to do just that.

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