Chattanooga, Tennessee Bankruptcy Law Blog
How to overcome too much medial or credit card debt
Credit card debt is a burden that can silently grow without the debtor’s notice until it is too big to ignore. Medical debt can suddenly appear after an injury or illness and leave the patient with thousands of dollars of debt or more. When the minimum payments on...
Wage garnishment? Bankruptcy can help
One of the scariest things some people will have to deal with is knowing that their wages are going to be garnished because of debts. This means that your employer has to take money out of your paycheck to cover the court order’s terms. Unfortunately, this isn’t...
Making smart moves with credit cards after bankruptcy discharge
Although discharge is the goal of bankruptcy proceedings, the discharge of your debt is really just a starting point for rebuilding your life. Immediately after your discharge, your credit score will be lower than it was before, likely by over a hundred points. In...
Can you really stop living paycheck to paycheck?
Living paycheck to paycheck gets old -- really fast. When the week outlasts your money, you constantly have to worry about every dollar. An unexpected expense can be devastating. You may find yourself putting ordinary expenses, like gas for the car and groceries, on...
Offered store credit? Watch out!
Shop in any major department store and you can’t get through a checkout line without the sales representative or cashier asking you if you’d like to file an application for store credit. Do it, they say, and you can get all kinds of perks -- including a discount on...
Is your estate plan prepared for illness, accidents and incapacitation?
Many people know that creating an estate plan is a way of providing for your loved ones after your passing. However, if you have not prepared for incapacitation, your estate plan may not give you and your loved ones all the support needed. An accident could leave you...
Can you protect your vehicle during a Chapter 7 bankruptcy?
If you’re struggling to make ends meet, you may be thinking about going through a Chapter 7 bankruptcy. Some people worry that doing so will mean that they have to liquidate everything they own, but the reality is that giving up everything is unlikely. It is possible...
How the repayment plan in Chapter 13 bankruptcy works
If you make too much income to qualify for Chapter 7 bankruptcy or if you know you would lose significant and valuable assets due to the liquidation process, Chapter 13 -- also known as a "wage earner's bankruptcy" -- may be a better option for you. People with more...
Should you create a financial power of attorney?
There are many aspects of your estate plan designed to protect you in the event of incapacity. A financial power of attorney is one such document. Not only does it provide you with peace of mind, but it can go a long way in keeping your finances in order if you’re...
The automatic stay is a positive aspect of bankruptcy
One thing that many individuals who have debts hate is hearing the phone ring because it might be one of their creditors. The same is true for checking their email or postal mail. Some debt collectors are ruthless when it comes to trying to get what they’re due....
