When filing bankruptcy, one of the first questions an attorney will ask is, ‘How much equity do you have in your home?’ The amount of equity often caused a hardship on Tennessee residents who owned their homes when it came to their bankruptcy options. The homestead exemption is what protects a debtor from forcibly selling
Pursuing higher education to better oneself and one’s job prospects seems like a solid plan, but it comes at a cost. As it currently stands, over 43 million people in the United States, many right here in Tennessee, carry student loan debt. It is the second biggest form of debt in the country, trailing just
Access to medical care is a right, not a privilege, but that does not mean it is something everyone can afford. Right now, many Tennessee residents are knee-deep in medical debt. Is there anything they can do to relieve the financial burden? According to a recent news article, it is believed that 20% of Tennesseans
The year 2020 will go down in history as one of the worst for many Tennessee residents. From lost jobs, serious health issues and the loss of loved ones, it has all been a lot for people to deal with. When life gets rough, people’s spending habits tend to change. This year, there has been
In a tough spot financially? If you are, you are not alone. Right now, numerous Tennessee residents are in the same position, and they, like you, just want to figure a way out of it. While there are various debt relief programs out there, the one thing a lot of people want to know is:
It can be challenging to face a difficult financial situation head on. In fact, many Tennessee residents may not know how they could effectively handle their overwhelming debt, and as a result, it continues to get worse. However, Chapter 7 bankruptcy is a common debt relief option that consumers take advantage of. While it can
Most consumers carry some debt, whether it’s from credit card use or student loans. These balances are often manageable, but a single event, such as a medical emergency or job loss, can affect the ability to keep up with payments and avoid additional interests. It does not take long for debt to spiral out of
Those who are gainfully employed in Tennessee may feel financially safe and secure. Regardless of how stable a situation may seem, however, no person is immune to financial difficulties. These days, people are losing jobs while continuing to pile on debt. In a scenario such as this, it can seem like there’s no way out.
Many Tennessee residents understand what it is like to experience ups and downs regarding their finances. It is not uncommon for people to have several years in a row where they feel financially comfortable and things are going well, then hit a stumbling block when expected issues arise that put a strain on their finances.
Deciding which type of bankruptcy is appropriate is more complicated than simply checking a box on a form. Chapter 7, Chapter 13 and Chapter 11 may all be possibilities. However, determining which one is the appropriate choice does take some thought. Additionally, if the individual is considering Chapter 7 bankruptcy, he or she will need