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Helping good people through bad times

November 2014 Archives

What can a Chapter 13 bankruptcy filing do for a debtor?

Many Tennesseans struggling with financial challenges may view bankruptcy as a solution of last resort. It should, however, be at the top of their list of solutions, especially Chapter 13 bankruptcy. Known as a "wage earner's plan," this form of bankruptcy will allow a filer to find debt relief through a repayment plan that lasts from 3 to 5 years.

What are the main reasons people file for bankruptcy?

Many people believe overspending is the main reason people overextend themselves and get into financial trouble. This oversimplification does not consider the sorts of events that can contribute to sudden economic problems. Knowing the leading reasons why people file for bankruptcy can help many Tennessee residents avoid these types of situations, as well as understanding that bankruptcy is a perfectly reasonable way out from under crushing debt.

How can Chapter 7 bankruptcy lead to debt relief?

Any Tennessee resident who struggles with massive debt may find the idea of permanent relief hard to imagine. Adhering to a tight budget and keeping expenses to a minimum never seems to make a dent in their overall debt and increases the anxiety of what comes next. Instead of resorting to solutions that actually make things worse, such as payday loans, it may be time to consider filing for Chapter 7 bankruptcy. Despite its bad reputation, bankruptcy has proven time and again to be an effective and legal way to find a fresh start.

How to get out of the quagmire of credit card debt

Any Tennessee resident who struggles with debt knows that it can feel like being trapped in thick, deep mud that makes it nearly impossible to get anywhere. Forward progress on getting out of credit card debt seems nearly impossible because the interest that builds up month after month can actually cause the debtor to sink farther down. What a debtor needs is a strong and reliable arm to help pull them out.

Tennessee bankruptcy can feel like taking a leap of faith

For some Tennessee residents, mounting debt can seem like it is pushing them closer to the edge of a cliff. Sooner or later, most people see the looming prospect of filing for bankruptcy. For some, though, it requires too much of a leap of faith, and they continue to struggle, falling further behind. Those who file for bankruptcy, however, come to see it as the best way to find permanent debt relief.

Kenneth C. Rannick, P.C.
4416 Brainerd Road
Chattanooga, TN 37411

Phone: 423-954-7180
Phone: 423-624-4002
Fax: 423-624-0509
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