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Personal Bankruptcy Archives

Can you discharge student loan debt through personal bankruptcy?

The student loan debt crisis has hit many in Tennessee hard. Student loan payments have risen to such degrees that people are being forced to make uncomfortable decisions, such as having to decide which bills to pay each month and which to put off. Sometimes even taking care of the necessities such as putting food on the table, paying rent or a mortgage, or paying for electricity or water become difficult if not impossible. When this happens, people may want to consider filing for personal bankruptcy.

What to know about the automatic stay

Bankruptcy can be an important legal step toward a Tennessee resident gaining control over their debts and finances. While not every debtor will require the stringent processes of bankruptcy to get themselves back on solid financial footing, others may need it and its eventual discharge to secure stronger ground on which to rebuild their lives. However, even before discharge happens in a personal bankruptcy may a person begin to experience the benefits of having filed for the process.

Getting you through life's unexpected events

On slow days at work, a Tennessee resident may dream of the day that they hit it big and win the lottery. They may imagine being able to walk away from their job and live the life of their dreams. However, winning the lottery is an incredibly rare event. It is unfortunately more likely that a Chattanooga resident will suffer a devastating setback rather than an unexpected windfall.

Lenders accused of taking debtors' funds after bankruptcy filings

One of the biggest protections that Tennessee residents can receive after filing for personal bankruptcy is a stay on actions of collection on their loans. During bankruptcy, a person is generally given time to either liquidate their assets through a Chapter 7 action or create a repayment plan through a Chapter 13 action. The idea is to give a debtor an opportunity to put themselves in the best possible position to alleviate their burdensome financial troubles and to emerge at the end of the process without debts.

Know your personal bankruptcy options for the New Year

Sometimes the one person that a Tennessee resident may struggle to be honest with is themselves. When it comes to approaching life in a truthful, honest manner, it can be tough for individuals to hold themselves to the high standards they expect out of their friends, family members and co-workers.

Bankruptcy is an issue for an aging American population

It is a common practice of Americans to save their money so that one day they may be able to leave their jobs and enjoy their retirement years before health issues and old age deprives them of their happiness. With the help of investments, pensions, and other retirement tools, many Tennessee residents are able to achieve this dream and still have some money left over to give to their descendants in their estates. However, this is not the case for all older Americans. A disturbing study recently revealed that aging Americans are filing for bankruptcy at a much higher rate than in the past.

The requirements for filing for Chapter 13 bankruptcy

Chapter 13 bankruptcy is a topic that has been discussed on this Tennessee debt relief blog a number of times and may seem to readers to be a good way to find financial freedom. While it is imperative that individuals seek the counsel of bankruptcy attorneys to fully understand how bankruptcy might affect them, this post will offer readers an overview of what they must do to qualify for the process.

Debt and bankruptcy are problems for seniors

It is a common misconception that a person's financial health will always improve over time. The idea behind this belief is that as time goes on a person will contribute more and more to their savings, their retirement nest egg will grow, and they will eventually be able to stop working and enjoy the remaining decades of their life in financial comfort. A recent report by the Consumer Bankruptcy Project suggests that this is not the case.

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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