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April 2016 Archives

creditor committee: an important part of Chapter 11 bankruptcy

Chapter 11 bankruptcy is a legal tool that Tennessee businesses are often able to utilize when their financial hardships force them to take action over their debts. Other forms of bankruptcy exist, but Chapter 11 bankruptcy offers businesses the opportunity to reorganize in an attempt to turn profits and improve their economic positions. Regardless of the form of bankruptcy that a business chooses, when it begins the bankruptcy process it must follow the particular rules established for the type of bankruptcy it intends to pursue.

We help individuals take charge of their overwhelming debts

Tackling a major project can be a challenge for individuals who struggle to look at each step and who cannot see past the totality of everything that must be done. Tennessee residents who become overwhelmed when working through difficult tasks may flounder when faced with burdensome debts and simply may not know where to begin to address their financial woes. One of the first steps that they can take to begin the process of rebuilding their economic health is to contact a bankruptcy and debt relief attorney like Richard Banks.

Federal income tax debt may be discharged under Chapter 7

By now most readers of this Tennessee bankruptcy law blog have filed their taxes. Some people may have even received their refunds by now and put those recouped funds toward their savings, investments, or desired purchases. Tax time can be stressful for all individuals, but for those who are engaged in the bankruptcy process, dealing with taxes can impose a whole new level of anxiety.

Don't let credit card debt become a lingering burden

There comes a time in many people's lives when they receive bills they are not prepared to pay. For individuals living throughout Cleveland, those bills can be for medical services, educational tuition, mortgage payments, or credit card balances. While many lenders will work with borrowers to help them pay down their debts, in some situations individuals may choose to try to manage their debts on their own without any assistance.

I filed for bankruptcy last year. Can I file this year, too?

Not many Tennessee residents look forward to filing for bankruptcy, and few would choose to file more than once in their lifetime. However, depending upon the health of a person's finances the prospect of filing for bankruptcy multiple times may present itself. Though an individual may choose to file for bankruptcy at different stages in his life, he is subject to filing restrictions that limit when his subsequent bankruptcy actions may begin.

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Richard Banks & Associates

393 Broad Street, N.W.
Cleveland, TN 37364-1515
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