The process of getting unburied from mounds of credit card bills and other debt, especially in the face of ongoing creditor harassment, can be daunting for many Tennessee residents. If you are like many other consumers, you may feel unsure of where to turn for help and what your options are. Filing for bankruptcy can be one avenue to consider when you need help to find a way to a better financial future.
There are many protections that a bankruptcy offers you including the ability to lower your debt to income ratio by eliminating much of your consumer debt. If you are preparing to talk to a professional about bankruptcy plans, you should be sure to get details about specific items. Following are some questions to ask that will help you determine if bankruptcy is right for you:
- What belongings or assets can I keep and what items will I lose?
- How can I get creditors to stop nagging me about delinquent payments?
- Can I include all of my debt in a bankruptcy?
- What is the “means test”?
- How does a Chapter 7 bankruptcy differ from a Chapter 13 bankruptcy?
You should also investigate how to use a bankruptcy to improve your financial situation. This includes finding out what steps you can take immediately after your bankruptcy is complete to boost your credit score.
You can rebound from financial challenges and look forward to a fresh start. You can learn more about how bankruptcy might be able to help you by reviewing our bankruptcy and debt relief website.