Category: Eviction

4 common reasons why you may consider filing for bankruptcy

3/22/2023

Personal bankruptcy is a legal process that allows individuals to eliminate or restructure their debts. It is typically considered a last resort when other options, such as debt consolidation or negotiating with creditors, have been exhausted. Here are some common reasons why people consider filing for personal bankruptcy:

Overwhelming debt: If you have significant debt that you are unable to pay off, bankruptcy may be an option. Bankruptcy can help eliminate certain types of debt, such as credit card debt or medical bills.
Creditor harassment: If you are being harassed by debt collectors, bankruptcy may provide relief. Once you file for bankruptcy, an automatic stay goes into effect, which prohibits creditors from contacting you or taking collection actions against you.
Foreclosure or repossession: If you are at risk of losing your home or car due to missed payments, bankruptcy may be able to help you keep those assets. Filing for bankruptcy can put an immediate halt to foreclosure or repossession proceedings.
Legal judgments: If you are facing a lawsuit and cannot afford to pay the potential judgment, bankruptcy may be able to help. Filing for bankruptcy can stop legal proceedings and discharge the debt if it is eligible.

It's important to note that bankruptcy is a complex legal process and should not be taken lightly. Before deciding to file for bankruptcy, it's a good idea to speak with a qualified bankruptcy attorney to discuss your options and determine if bankruptcy is the right choice for your situation.

The Office of T. Verner Smith has helped thousands of Tennessee residents navigate this process and has a great reputation for handling the process in a respectful and professional manner. The first step is simply making a phone call to inquire about a free consultation. Call us at (731) 423-1888 and let's begin finding solutions for your problems today.

16% say they will likely be EVICTED in next two months

3/5/2023

The U.S. Census Bureau, in their most recent survey taken the first two weeks of February, found 16% of respondents expect to be evicted in the next two months. Another 23% said it was somewhat likely.

The data demonstrates that Americans are continuing to struggle with inflation, and some are now facing even more difficulties with the SNAP pandemic benefits expiration that occurred March 1st. Families of four at 200% of the poverty line has the most to lose with the loss of additional SNAP benefits.

Additionally, the unwinding of pandemic Medicaid coverage will ultimately leave millions without coverage.

Southern states, according to the data, show higher rates of financial stress.

If your household facing a financial crisis due to these changes and are you ready to consider your legal options?

Through financial restructuring, debt resolution, or legal options including but not limited to bankruptcy, there are ways to relieve the pressure and chart a path to a better future. Don't be embarrassed, don't be hesitant, you are not alone, and taking action now is the smart approach.

Call us at (731) 423-1888 and schedule a free consultation.

4 common reasons why you may consider filing for bankruptcy

16% say they will likely be EVICTED in next two months

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