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Chapter 7 Archives

Court rules creditors can go after sick wife’s assets

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.

Is there still a stigma attached to bankruptcy?

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.

Renting an apartment after bankruptcy

People in Davidson who file for Chapter 7 bankruptcy often have to move out of their home and turn it back over to the bank. If they have fallen behind in payments, they could have trouble with their credit rating and this can make it difficult for them to rent an apartment. Despite a bad credit rating, there are things that people can do to convince a landlord to accept them as a tenant.

How can Chapter 7 bankruptcy give you a fresh financial start?

Chapter 7 bankruptcy is designed to help you regain your financial footing by digging you out of debt. Although claiming Chapter 7 bankruptcy may have some negative effects on your credit and make it difficult to obtain certain types of loans in the future, it can help by giving you the opportunity to start fresh. If you are struggling with medical debt, credit card debt, a mortgage and other overwhelming financial expenses in Tennessee or anywhere across the country, you are not alone. According to the U.S. Courts, more than one million people filed for bankruptcy in 2013. Of those million, 728,833 cases were for Chapter 7.

Cancer support organization goes bankrupt

When a business owner is struggling with debt, it is essential for them to consider every option that is on the table as they move forward. In some cases, successfully filing for bankruptcy can provide them with a sense of relief and peace of mind after months or maybe even years of dealing with overwhelming anxiety. In Davidson, Tennessee, and throughout the United States, businesses that are both large and small should address any financial hardships they are facing as soon as possible.

Is filing for Chapter 7 bankruptcy the right option for you?

The loss of your job, a change in your income, an unexpected emergency or any other number of factors may cause you, or others in Tennessee, to struggle with debt. If you are dealing with financial challenges, then you may have considered filing bankruptcy. Sometimes, however, it can be difficult to know if Chapter 7 bankruptcy is the right option for you.

Obtaining credit after a bankruptcy

People in Tennessee have struggled through a rough economic period just as have citizens in other states. With the nation experiencing an increase in bankruptcy filings during the recent recession, concerns about rebuilding credit after filing for Chapter 7 is shared by many. Despite reports of gloom and doom having a Chapter 7 bankruptcy on record does not preclude a consumer from obtaining new credit.

What debts are not dischargeable via bankruptcy?

If you find yourself struggling with unmanageable financial challenges, you are not alone. Many other Tennessee residents are in the same situation. An improved national economy has helped but certainly not eliminated the need for consumer debt relief. Many people with high levels of personal debt can find that filing a Chapter 7 bankruptcy gives them the help and fresh financial start they need. It is important, however, to note that you cannot discharge every type of debt in a liquidation bankruptcy.

Dealing with debt: Credit Counseling or Chapter 7 bankruptcy?

The loss of a job, an unexpected injury or illness, or any other number of factors may cause people in Tennessee to struggle with debt. When looking to regain control of their finances, many look to debt relief options, including credit counseling and declaring Chapter 7 bankruptcy. It is important for people to understand the differences between these options in order to determine which is best suited for their needs and situation.

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Rothschild & Ausbrooks, PLLC
1222 16th Avenue South, Suite 12
Nashville, TN 37212

Toll Free: 866-656-8909
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Nashville Bankruptcy Office