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January 2015 Archives

Choosing the right bankruptcy for those with irregular income

When a person has a regular paycheck, staying out of debt can still be tricky. Imagine the stress involved with working a seasonal job or owning a business. In these situations, there is no steady paycheck upon which you can rely. You're not always paid on a weekly or even monthly basis, so trying to pay bills and stay out of debt is especially challenging. Fortunately, bankruptcy can help provide debt relief, but it's important to choose the right type to fit your specific situation.

When can an individual file for business bankruptcy?

Tennessee consumers generally have two main options for filing for bankruptcy: Chapter 7 and Chapter 13. What many do not know, however, is that there is another option, but it is used quite rarely. Chapter 11 is generally reserved for a business bankruptcy, but individuals can use it in certain situations.

What kinds of debts are not discharged in Chapter 13 bankruptcy?

Many Tennessee residents who are struggling financially choose Chapter 13 bankruptcy because they want to make a good-faith effort to pay off debts. While Chapter 13 bankruptcy offers the ability to make manageable payments on credit card debt, it's not a magic solution. Bankruptcy does not eliminate all kinds of debt, and there are certain financial obligations that cannot be erased in Chapter 13. Read on to find out what types of debts will remain.

Manage credit card debt in 2015 with these tips

Now that the holidays have come and gone, Tennessee residents may be feeling the pinch financially. Christmas spending, along with unemployment, medical expenses and other financial challenges in 2014 may have left their credit cards maxed out. Resolve to pay off credit card debt this year with these tips.

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