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December 2015 Archives

Chapter 7 bankruptcy may be the best fit for some debtors

Overcoming debts can be difficult no matter what path a Tennessee resident chooses to pursue. Whether he selects a bankruptcy plan that allows him to repay his creditors over time or a plan that liquidates his possessions in order to provide him with a new start, either will have its challenges. However, there are some legal and personal reasons why a debtor may be more comfortable choosing Chapter 7 bankruptcy instead of Chapter 13 bankruptcy as his means of securing financial freedom.

Can I discharge my student loan debts under Chapter 13?

The pursuit of higher education is expensive. It is not unusual to hear about Tennessee students accruing hundreds of thousands of dollars in debt just to obtain college, professional and other advanced degrees. While some student are able to find high paying jobs that allow them to manage their periodic student loan payments, others find themselves with degrees that are simply unable to generate the income they need in order to satisfy their debts.

Holiday credit card debt can hurt your credit score

During the holidays it can be hard to keep spending to a minimum. For Tennessee residents, the winter months can involve a lot of shopping for friends and family members and all of that shopping can result in large outstanding credit card bills. There are several ways that incurring credit card debt during December can affect a person's overall credit health come the New Year in January.

Bankruptcy may help you start 2016 on the right foot

It is that time of year when Cleveland residents may begin thinking about their New Year's resolutions. For some, getting a good jumpstart on personal health is a priority. Others may make getting ahead in their careers the focus of their goals. Still others may make plans to alleviate the burdensome debts that hamper their abilities to save for the future.

Can a business file for Chapter 13 bankruptcy?

A legal entity does not have to be an individual person. In Tennessee and throughout other jurisdictions in the United States, an entity can be a business, corporation or other form of legally-created body. Non-human legal entities can have some legal rights, including the right to file for bankruptcy under certain scenarios. However, entities such as businesses and corporations cannot seek protection under the Chapter 13 process.

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