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Chattanooga Bankruptcy Law Blog

Paying off credit card debt

Credit card debt can sink financial solvency and lead to bankruptcy. There is currently $1 trillion of credit card debt in this country. But there are workable ways to pay off credit card bills. The avalanche method starts with paying off the credit card rate with…

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You’re in debt. Is bankruptcy a viable option?

Do you consider yours an average Tennessee household? If so, then you’ve likely had your share of financial ups and downs in the past five to 10 years. Even if you have dual income earners in your home, economic strain is not uncommon in this state…

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Bankruptcy exceptions can protect assets

Bankruptcy can provide a fresh start after incurring insurmountable debt. Chapter 7 exemptions provide bankruptcy protection over a debtor’s property while dealing with debt. Chapter 7 bankruptcy is typically a faster and easier process than Chapter 13. Under Chapter 7, most property may be protected. Chapter…

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The good and bad of credit cards

Having a new credit card can provide perks and better credit. But this can also lead to problems such as credit card debt and a bad credit score. The best reasons for opening a new credit card include new member bonuses such as bonus points, miles,…

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Pluses and minuses of credit card debt consolidation

Falling behind on credit card debt is a growing problem, especially for “millennials” who use them to pay for living expenses that are not covered by their paychecks. More consumers are using credit card debt consolidation to pay off their unpaid credit card bills. But, this…

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A possible solution for medical debt

Medical expenses can be crippling. But, there are several ways to deal with medical debt. Ignoring bills can only make the problem worse. Health care providers will collect on bills for a few months before the account is turned over to a collection agency. When that…

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What’s going to happen to your property during bankruptcy?

Making the choice to file for bankruptcy is not easy. If you are considering this choice, it is probably because you find yourself in a place where you can no longer manage your debt and financial obligations on your own. This is a tough choice to…

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An introduction to involuntary bankruptcy proceedings

Most bankruptcy proceedings in the Chattanooga area are started by a person or corporation who is struggling with a heavy debt load and an insufficient cash flow. On occasion, a bankruptcy proceeding is started by one or more creditors of the debtor who fear they will…

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How to tell a minor business hiccup from a major financial crisis

When you first had a dream to become a Tennessee business owner, you might have spent hours upon hours thinking of your future and hoping to see that dream unfold someday. Perhaps, during the start-up phase, you even thought of quitting a few times, as is…

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How bankruptcy can impact credit card debts

Many people in Chattanooga and Eastern Tennessee who wonder about filing a petition for bankruptcy are struggling under a mountain of credit card debt. They may have heard that bankruptcy offers protection from credit card companies that are trying to collect on these delinquent accounts, but…

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