Memphis Bankruptcy Law Blog
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...
Steps to take after bankruptcy
Filing bankruptcy can bring much needed financial relief, but once it is over, you will need to rebuild your finances and credit. If you want a better future without new debt trouble, you need to devise a plan for the steps you will take after your bankruptcy...
How does wage garnishment work in Tennessee?
Wage garnishment is a recourse that creditors take when you do not make regular payments on your debts. And while it can feel unfair and put undue pressure on your financial situation, as long as they get approval from the courts, these liens can pull a portion of...
3 things to know about bankruptcy
Between automatic stays, debt repayment plans and multiple code chapters, there is arguably a lot to know about bankruptcy. However, there is more to it than technical details. In general, bankruptcy can be a very good solution for people who want to get out from...
What should you do if you cannot pay your mortgage?
If you have debt that is steadily accumulating and beginning to affect your ability to stay on top of your financial obligations, it will not be long before you start to feel the strain of your predicament. If you own a home in Tennessee, one valid concern you may...
When Chapter 13 bankruptcy is right for you
People who struggle to stay on top of and ahead of their debts know the stress that a growing mound of debt can put on them. The inability to repay debts can leave them facing calls and letters from debt collectors and begin to make them fear losing assets or more....
Reasons to reconsider a loan modification
If you have fallen behind on your mortgage payments and are facing possible foreclosure, a loan modification is one possible option to resolve the matter. However, depending on your situation, it may not necessarily be the best option. There are several different...
How bankruptcy affects your job
You have many questions when you are thinking about filing for bankruptcy. Among the issues you should consider is the impact of bankruptcy on your job or job prospects. For the most part, bankruptcy should not have a negative bearing on your employment. As with any...
