Ben Sissman, Attorney at Law
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February 2013 Archives

Too many Americans have more credit card debt than savings

One of the most important things that people in Memphis and elsewhere can do to avoid having to file for bankruptcy is to save a decent amount of money to get you through an emergency. Of course with the economy the way it is, it would have been impossible for many people to save for prolonged unemployment or losing a house, but keeping a savings account can help to weather some financial storms.

Coach's creditor files lawsuit claiming bankruptcy fraud

One thing you have to consider when filing for bankruptcy is that you have to be prepared to give an honest account of all your assets. If you are caught hiding assets in an attempt to avoid liquidating them or altering the amount of money you have to pay your creditors, you could be exposing yourself to serious legal consequences, from lawsuits to charges of bankruptcy fraud.

Bankruptcy can teach some valuable lessons to Tennesseans

One of the lessons that anyone can learn from filing for bankruptcy is to decide what is and wasn't important. For many people filing for bankruptcy under any chapter of the U.S. Bankruptcy Code, you will have to decide what you can sacrifice financially in order to get your monetary house in order.

Average credit scores of Tennessee residents plummet in last year

A new report out is bad news for not just residents of Memphis, but all Tennessee residents. The new report indicates just how far credit scores have fallen for Tennessee residents during the last year. A bad credit score can have many negative effects on a person's life, including making it harder to get approved for loans, such as a mortgage or a car loan. Usually a bad credit score occurs when someone racks up a large amount of debt, sometimes credit card debt, and is unable to pay it off.

Casey Anthony racks up $792k in debt, files for Chapter 7

Many in Tennessee may not be aware of another kind of expense that could cause you to have to file for bankruptcy when you didn't think you were going to have to. For many people, going to court is not cheap. There are attorney fees and court costs even if you win your lawsuit or you are acquitted on criminal charges.

Bankruptcies up in Memphis area in 2012

In a bit of mixed news that may not surprise many of our readers here in Memphis, Shelby County, Tennessee, had more bankruptcy filings in 2012 than in 2011. According to an analysis done by a local news organization, there were 12,471 filings in 2012, 50 more than there were in 2011.

Young adults breaking out the plastic, running up balances faster

Our Tennessee readers are no doubt aware of the harmful effects of the recession and the slow economic recovery. Just today the unemployment rate ticked up again. As a result, many people have had to use credit cards to make major purchases and pay their bills. This is especially true among young adults, who have had to put up with one of the worst job markets in decades. For many, carrying a large amount of credit card debt is just a normal part of life.

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Ben Sissman, Attorney at Law
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Memphis, TN 38103

Phone: 901-730-4958
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