Homeowners who do not make their monthly mortgage payments over a period of time, run the risk of losing their homes. Foreclosure can also occur if a homeowner has broken any of the terms in the mortgage contract. When these types of situations occur, the financial institution that has provided the mortgage loan may decide to repossess the property.
When you file for Chapter 13 bankruptcy protection in Tennessee, you will be required to attend what is called the meeting of the creditors, or a 341 meeting. According to the United States Bankruptcy Court for the District of Columbia, this is a meeting that occurs between you, your creditors and the trustee assigned to your case. If you are filing for bankruptcy with your spouse, both of you must come to this meeting. Failure to do so could lead the trustee to ask the bankruptcy court to take legal action against you or dismiss your bankruptcy filing.
You see them all the time – offers that arrive in the mail from a credit card company that offer you a zero percent interest if you transfer your current credit card debt to a new card. The offer is a tempting one and causes you to think about the freedom it could offer you. However, is this offer really as good as it seems?
There are several ways that a struggling New Jersey business owner can keep their business afloat even when facing economic stress. Implementing money management monitoring and keeping an observant eye on income and stock can make a difference.
If you constantly struggle to pay your bills only to fall further behind each month, it's natural to feel a little desperate. In your search for a solution, you may have considered tapping into your 401K to get those creditors off your back. Retirement fund loans usually come with a five-year payback schedule and a low interest rate.
Like others in Tennessee, and elsewhere, you may have struggled to pay your medical bills. As of 2012, according to the Centers for Disease Control and Prevention, one out of every 10 families had medical debts that they were unable to pay. While an unexpected medical condition or injury may lead to unforeseen expenses, there are steps that people can take to help ease the financial burdens of medical care.
Like others in Nashville who are struggling with debt, you may be in danger of losing your home. Depending on your circumstances, however, filing for bankruptcy may stop a foreclosure. At Rothschild & Ausbrooks, PLLC, people often ask us how they can keep their homes and regain control of their finances. In order to help you understand your options, we will discuss how Chapter 7 bankruptcy filings impact foreclosure proceedings.
Like many in Tennessee who are considering bankruptcy, you may have thought about filing for Chapter 13 bankruptcy. As such, you are likely aware that doing so means you will pay back all, or a portion, of your debts through a repayment plan. At Rothschild & Ausbrooks, PLLC, people often ask us how these plans work. In this post, we will discuss how repayment plans are established, and how they are carried out.