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March 2016 Archives

Credit cards in the aftermath of bankruptcy

There are likely to be many people among our readers in Tennessee who have heard nothing but the "negative" aspects of filing for bankruptcy: that they'll lose their home, be humiliated when their friends and family find out, and their credit will take a hit that they won't be able to recover from. However, these negative aspects are often exaggerated. The fact is that filing for bankruptcy is a legal method of confronting an untenable debt situation, and in many cases the problems are caused by overwhelming credit card debt.

Facing financial challenges with a Chapter 13 bankruptcy filing

Not everyone who is facing financial challenges is drowning in debt with no means of income to repay it. There are thousands of Americans who earn a decent income, but what they earn simply isn't enough to keep up with even minimum payments on debts. Tennessee residents may believe that if they are employed and earning a good income, then they are not eligible for bankruptcy. But, that may not be the case.

Reorganization plan must be comprehensive for business bankruptcy

To reorganize something is to change the way in which it is managed or shaped. When it comes to reorganizing a business, this can include changing who is responsible for making decisions about the entity, modifying how the entity's money is invested or used, and augmenting or cutting back on the entity's operational scheme and workforce. With this in mind, Bradley County businesses that choose to use Chapter 11 bankruptcy to deal with their financial woes generally must create and submit plans for reorganization in order to successfully bring themselves out of bankruptcy.

Do I have to file for Chapter 13 bankruptcy with my spouse?

When financial challenges affect you, those challenges often have a way of also affecting your family. Whether you are married, a parent, or both, you may find that your hardships are difficult to insulate from your loved ones. So, how can such situations be handles? In Tennessee and other jurisdictions across the country, you can file for bankruptcy either by yourself or with your spouse.

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