Under Chapter 7 bankruptcy, people in Tennessee understand that they are agreeing to liquidate their assets. The liquidation essentially will enable the court trustee to pay off debtors and gives people the ability to start from scratch and rebuild their financial lives. However, questions can arise over what property can be sought by creditors, especially when only one spouse is filing for bankruptcy.
Your guests have barely left the house and the tree won't be taken down for another week, but you may already be dreading that first post-holiday credit card bill. If this sounds like you, you're not alone. As we noted recently, many of us are all too willing to spend money on our loved ones, but of course pulling out the credit card is much easier than making the payments.
What can happen if a debt collection agency tries to recover an old debt? Is there a time limit after which creditors can no longer go after Tennessee residents? According to The Consumer Financial Protection Bureau, debt collectors usually have a statute of limitations of two years – sometimes longer – before they are no longer allowed to sue for an older debt.
What happens if you become unable to pay your Chapter 13 bankruptcy payments? At Rothschild & Ausbrooks, PLLC, this is a question we hear often from beleaguered clients in Tennessee. The bankruptcy process may be stressful enough when things are going smoothly. If you are trying to hold onto your home and other assets in a Chapter 13 bankruptcy, unexpected financial difficulties can only increase this fear and stress.
The foreclosure process, no matter how long or short, can be a nightmare for families going through it. The length of time it takes to complete a foreclosure can vary widely from state to state. In some areas, foreclosing on a home has been known to take two years or longer, especially during the height of the housing crisis. If you are facing a foreclosure in Nashville, you may be wondering how long you have to try to save your home.
If you're like many Tennessee residents who are considering filing for Chapter 7 bankruptcy, you may be hesitant to take the steps, believing that there is a stigma attached to the event. It's true that in decades past, there was more bias against those who had gone through a bankruptcy, but times are different now. The years during and following the recession hit many people hard, and countless people had to resort to bankruptcy to get back on their feet.
You try to be conscientious when it comes to your spending habits, but now you are facing an unexpected medical bill. Before you begin to panic, you should know that it may be possible for you to negotiate with your doctor on that balance owed.
The holidays are here and this means that retailers and other companies are offering huge sales to entice people in Davidson to spend money. Often, people will put these purchases on their credit card in order to grant gift wishes their children, friends or family members have. However, using plastic to buy things must be done with great care.