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Helping good people through bad times

November 2017 Archives

What happens at the Chapter 7 meeting of creditors?

For people in Tennessee who are experiencing financial problems, Chapter 7 bankruptcy can be a sound strategy to get back into a better position and move forward with their lives. The benefits of Chapter 7 are that it is relatively easy and will clear most unsecured debt. However, debtors are often concerned about how the process goes. Included in that is the meeting of creditors. Knowing how the meeting of creditors is handled can help a debtor prepare for it. If this is a sticking point in deciding to file for Chapter 7, it need not be.

Information about payments under Chapter 13 bankruptcy

Once a Tennessee debtor realizes that bankruptcy is the only option and Chapter 13 is the optimal choice, there will be other issues that must be fully understood as part of the process. Adhering to the Chapter 13 plan is a key to getting debt relief and a fresh financial start, but debtors might be concerned about how much they must pay back and what will happen if they fail to keep up with the payments. Having information about these issues is crucial to having a successful outcome.

A lawyer can help with the bankruptcy means test

Tennessee debtors worried about their financial future may feel overwhelmed by financial challenges, but bankruptcy may be an option. But, getting over the mental hurdles of bankruptcy can be hard, even though it is a time-tested and legal debt relief solution. Having legal assistance to walk the person through the process is essential, like understanding the means test.

Should I consider debt relief instead of bankruptcy?

When a Tennessean is confronted with overwhelming debt, it is not only a financial problem, but a personal problem as well. People can experience stress, find themselves unable to sleep, have health concerns and emotional problems because of financial challenges. Many are fearful of bankruptcy due to the stigma that many associate it with. Some will take the step of considering debt negotiation to eliminate debt. A debt negotiation program (DNP) is different from other alternatives and might be alluring to those who associate bankruptcy with shunning responsibility. Understanding the assertions that these companies make and if it is realistic is vital to deciding on the next step.

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

Phone: 423-954-7180
Phone: 423-624-4002
Fax: 423-624-0509
Chattanooga Law Office Map