Memphis Bankruptcy Law Blog
How the bankruptcy means test determines Chapter 7 eligibility
When you file for personal bankruptcy in Tennessee, you typically do so through either a Chapter 7 or a Chapter 13 bankruptcy proceeding. There are some key differences between the two. A big difference is that a Chapter 7 bankruptcy may help you if you are working...
Modify a loan to stop foreclosure
When people are unable to make payments on their home, they may worry that the bank will foreclose on their house. People may be able to prevent foreclosure by modifying their mortgage. If people get a mortgage remodification, they change the terms of their current...
How are Chapter 7 and Chapter 13 different?
If you find yourself without a job due to the recent economic downturn and consequently facing serious financial difficulties, you may have begun thinking about filing bankruptcy. However, you likely have numerous questions about the types of bankruptcy relief...
Do you know how foreclosure impacts your credit score?
Falling behind on your mortgage payments brought enough trouble to your door, but now you must consider the full impact foreclosure has on various aspects of your life. What ill effects do you think your credit score could suffer? No matter what lead to your...
Beware of using credit cards before filing bankruptcy
If you are awash in debt and find yourself living on your credit cards because your employer reduced your hours or laid you off, you know you are in a downward spiral that likely will not end. In fact, you may arrive at the point where bankruptcy becomes your only...
Bankruptcy: getting to the bottom of it all
Bankruptcy is a beneficial solution to many people in Tennessee who seek immediate relief from overwhelming debt. However, if those people neglect to analyze their situation and implement changes to their financial habits, they may find themselves in a similar...
Building healthy credit after filing for bankruptcy
Consumers who have struggled with serious debt may often worry that any hope for a positive financial future no longer exists for them. However, that need not be the case. Even after experiencing a challenging financial situation, including filing for bankruptcy, it...
What considerations go into creating the Chapter 13 repayment plan?
In Chapter 13 bankruptcy, you must prepare a repayment plan for your debts. You will work with the trustee in your case to create this plan. You must have a regular income to file this type of bankruptcy so that you have the funds to repay your creditors. According...
File chapter 7 and still keep your Tennessee home
Filing bankruptcy in Tennessee is a last resort, but it can help you get out from under overwhelming debt and reset your finances. Many people choose Chapter 13 with a three- to five-year repayment plan rather than discharge debt because they want to keep their home...
Emotional hardships and foreclosure
When people are facing foreclosure, there are many different challenges many have to work through. For example, a lot of people in this position are experiencing financial problems, especially if they recently lost their job or are struggling with medical expenses due...
