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Local:423-954-7180
Local:423-954-7180

September 2017 Archives

Bankruptcy is often preferable to debt settlement

When confronted with financial challenges and limited strategies to get out, many Tennessee debtors will boil their choices down to debt settlement or bankruptcy. Debt settlement companies make a great show of their skills and assert that it is better than bankruptcy. Unfortunately, desperate people may believe those assertions. However, even though the increased regulation and oversight has improved the industry, it might not be the best alternative for most people.

Background on bankruptcy with creditors and employment

Tennesseans who are thinking about filing for bankruptcy due to financial challenges will undoubtedly consider the option due to the allure of debt relief and moving forward with his or her life. Whether it is a Chapter 7 bankruptcy, a Chapter 13 bankruptcy or some other chapter, there are certain factors that must be understood even after the case is completed. Two that frequently arise are if the creditor continues trying to collect on a discharged debt after the case has been completed and how a bankruptcy affects employment at a current job.

The right approach to filing for bankruptcy and rebuilding credit

Financial challenges are often cited as the biggest reasons why Tennessee residents decide to consider filing for bankruptcy. A concern that many have, however, is how the process will negatively affect their credit and what they can do after the bankruptcy is completed to rebuild their credit. Fortunately, there are ways to get back on stronger financial ground through bankruptcy and to rebuild credit. Having legal assistance is essential to this process.

What should you know about the Chapter 7 bankruptcy means test?

Tennessee residents whose financial challenges have reached the degree that they are considering filing for personal bankruptcy might think that Chapter 7 bankruptcy is often the easiest solution to their issues. It is a useful way to get out of debt. However, while it is a relatively easy process to understand, there are certain rules that govern it. The "means test" is one that should be examined in depth so the person is prepared.

Important points about a discharge when filing for bankruptcy

When a Tennessean thinks about filing for bankruptcy for debt relief, there is a certain amount of personal relief when finally taking the steps necessary to move forward with the process and get clear of financial challenges. However, there are also issues that people might not be fully aware of that can come up later and leave them confused and even disappointed.

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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