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Bankruptcy Law Archives

Young professionals are often confused by bankruptcy myths

As a young professional, you may find yourself facing a variety of financial challenges. While you can dig yourself out of some problems, there may come a point when you have no option but to consider bankruptcy.

Modern Americans are more comfortable with personal debt

Americans have grown increasingly comfortable carrying personal debt. From high mortgages, car loans and credit card balances, many are walking a fine line between living a comfortable life and taking a financial tumble. One misstep, one serious illness, lost job or economic downturn and the debt-to-income ratio could fall, tragically, into the red.

Do you need to 'qualify' for bankruptcy?

For many, the subject of bankruptcy is shrouded in mystery, myth and misinformation. Examples include: People who file for bankruptcy are irresponsible. Bankruptcy forever ruins your credit. Bankruptcy absolves the debtor of all debt. None of those assertions are categorically true. And here is one more: You have to qualify for bankruptcy in order to file.

4 Ways to repair your credit after bankruptcy

Filing for bankruptcy can be scary. However, it can actually be a good way to get back on your feet and start moving in the right direction. Although filing for bankruptcy will negatively affect your credit score temporarily, that doesn't mean there isn't anything you can do about it.

Protecting a loved one's inheritance in bankruptcy

Most people, by the time they become seniors or reach retirement age, have an estate plan in place that dictates where they would like their property and assets to go when they die. Considered to be one of the most important legal documents a person can establish, estate plans also require extensive consideration to ensure the right distribution of inheritance to the right beneficiaries.

Four tips to stopping wage garnishment through bankruptcy

Getting behind on payments can make a lot of people feel like the weight of the world is on their shoulders. Matters only get worse when harassing phone calls from creditors start or when the threat of wage garnishment is upon you.

IRAs aren't always safe in bankruptcy

Bankruptcy in Tennessee has many saving graces. One of the biggest is that it can allow people to get a fresh financial start. Being able to put debt in the rear-view mirror can provide a huge sense of relief to people who have been struggling for some time to keep their heads above water. An experienced Memphis bankruptcy attorney can help you determine what kind of bankruptcy, if any, is a good choice for you.

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The Law Offices of Philip F. Counce

3333 Poplar Ave.
Memphis, TN 38111

Toll Free: 866-923-1788
Phone: 901-201-6012
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