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Helping good people through bad times
Local:423-954-7180
Local:423-954-7180

April 2015 Archives

Chapter 13 bankruptcy may offer solution to crushing debt

Like many Americans, a significant number of Tennessee residents end up under the weight of too much debt. In many cases, an unexpected event-a medical emergency, unforeseen car repairs or a lost job-ends up breaking the household budget and putting even responsible people under financial strain. And for many people who end up in debt, there is no way weekly or monthly paychecks will ever allow them to pay off the debts that they owe. In many cases, they just barely make it week to week. Fortunately, one legal and responsible way out may be to file for bankruptcy under Chapter 13 of the U.S. Bankruptcy Code.

Driver's license may be suspended for student loan defaulters

Many Tennessee college students fund their education by taking out student loans. However, repaying student loan debt can be very difficult. Many students often default on their payments, even after getting a job. In some cases, the student may not get a job right out of college, at the same time that he or she is asked to start the repayment process.

Discharge of debt after a Chapter 7 bankruptcy filing

Chapter 7 bankruptcy proceedings are also known as a liquidation procedure. Under Chapter 7 of the U.S. Bankruptcy Code, the debtor may be released from all personal liabilities of repayment of eligible debts. The creditors may be barred from initiating or continuing collections proceedings against a debtor who has been discharged.

Tennessee sees most non-business bankruptcies in United States

Whether the cost of living in Tennessee is less than other states is up for debate, but the low cost of labor itself has attracted many international and national companies to set up business in the state. Unfortunately, low wages often mean employees live on the edge financially.

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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