The so-called "great recession" that occurred after the real estate bubble collapsed in 2007 caused untold pain to millions. Homes fell underwater, jobs were lost, many had to file bankruptcy. Bankruptcy filings have always served as one form of economic measure of how things are going for the average American, and by that measure, it can be said that the economy is slowing improving.
Many Tennessee residents like credit cards because they are more convenient than carrying around cash or a checkbook. They can also help raise your credit score and protect your purchases.
Tennessee consumers who are facing overwhelming debts, and continuous creditor harassment, may be seeking a solution to their financial problems. Due to the negative connotation and many myths related to bankruptcy filings, many people avoid consideration of such a drastic step. However, millions of Americans have resolved their financial issues by filing for Chapter 7 bankruptcy.
Over the past number of years, legislatures throughout the country have been creating laws to limit providers of short-term payday loans.
One useful feature of a Chapter 13 bankruptcy that not many borrowers know about is the ability to use a Chapter 13 to strip off a second mortgage or home equity loan on property that is now worth less than the outstanding balance on the first mortgage.
People who have never had reason to file for bankruptcy may feel somewhat superior. They know how to handle their money. They are not frivolous and they are careful with their money. They would never have to file for bankruptcy.
We don't typically write about large organization bankruptcies. Our focus is on serving the needs of individual consumers in Tennessee who too often find themselves overwhelmed by debt and desperately seeking relief. For many the protections of bankruptcy are the best way to stop threats of foreclosure, repossession and garnished wages.
You may have a lease and not even know it. But if you are in a situation where you are considering the advantages of bankruptcy protection as a means of recovering financial stability, you need to be aware that leases carry ramifications in the bankruptcy process. We outlined some of the specifics in an article about this particular topic.