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September 2018 Archives

A hardship discharge through Chapter 13 bankruptcy

The foundation of a Chapter 13 bankruptcy reorganization plan is the commitment of the debtor to the repayment of their debts. An individual who pursues Chapter 13 bankruptcy generally must have sufficient income that may be applied to the balance of their outstanding loans in order to be eligible for the process. However, from time to time a Tennessee resident who is pursuing Chapter 13 bankruptcy may experience a devastating setback that may prevent them from continuing with their repayment plan.

Why was my Chapter 7 bankruptcy discharge denied?

Debtors file for bankruptcy in order to achieve the elimination of their outstanding financial obligations. This is known as a discharge, and whether a Tennessee resident pursues Chapter 7 bankruptcy or Chapter 13 bankruptcy their goal is essentially the same: have the court approve the repayment of their debts and release them from their financial binds.

Credit CARD Act requires creditors to disclose vital information

For most people, credit card bills become due once every month. A Tennessee resident may be able to pay off the entire balance of their credit card bill and bring their outstanding obligation down to zero. Another person may not have the savings to pay their bill in full and may only be able to pay off the minimum of what their creditor says they owe.

Small medical debts get sent to collections

Often when readers of this Tennessee debt relief and bankruptcy blog think of medical debt they imagine the massive, crippling obligations that they hear about when insurers fail to cover the necessary procedures their customers require. A patient can incur hundreds of thousands of dollars of debt if they suffer an illness or injury that their insurer does not or chooses not to cover, if they must spend extended periods of time in the hospital, or for other medical emergencies. However, a recent article suggests that many of the medical debts that Americans carry are not massive but actually relatively modest.

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

Phone: 423-624-4002
Toll Free: 800-257-7594
Fax: 423-624-0509
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