Making the decision to file for Chapter 7 bankruptcy can be difficult. Declaring bankruptcy impacts the filer's credit and can be hard on his or her self-image as well, but it's sometimes the best way to get unmanageable debt under control. For people who are struggling to pay down their debts in Tennessee, Chapter 7 bankruptcy can improve day-to-day quality of life as collection actions must stop once the petition is filed.
One question in bankruptcy law is about filing for bankruptcy again. The federal Bankruptcy Code sets forth time period rules that apply to filers in Tennessee and across the country. When a person has previously filed for Chapter 7 bankruptcy, for example, and received a discharge, he or she must wait at least eight years from the date of the previous filing before beginning another Chapter 7.
From holiday shopping to everyday expenses, people use credit cards for a wide range of things. When it comes to credit card use, there are many mistakes people can fall into. Avoiding credit card mistakes is important, as such missteps could leave a person more likely to face significant financial difficulties, such as crushing debt. Today, we’ll go over some common credit card mistakes to watch out for.