Virtually all Tennessee residents are aware of the need to prepare for their retirement years. In practice, however, many people fail to make adequate preparations, and find themselves in dire financial straits during their later years. Others are simply victims of circumstance, and have fallen into debt through no fault of their own. No matter how a senior citizen reached the point of serious financial strain, finding relief is often a top priority. Chapter 7 bankruptcy is one path back toward financial stability.
For many Tennessee residents, financial strain has altered daily life. The stress and turmoil of being buried under a mountain of debt is hard to properly portray, but anyone who has lived this way knows exactly what it means to feel overwhelmed by debt. Chapter 7 bankruptcy offers a path out of debt and back toward financial stability, but there are a number of things that should be considered before taking that step.
Debt collectors are the bane of consumers dealing with financial problems. Continuous phone calls, final notices, lawsuits and other threats become a plague. Representatives of collection agencies have little, if any sympathy for the people they target for what often amounts to harassment.
For many consumers and businesses looking for relief from crushing debts, bankruptcy is a necessary process. However, the process can be complex, lengthy and discouraging, especially when bankruptcy judges are at premium and carry overwhelming workloads. Frustration only mounts for those in need of help.