May 3, 2008
- Tennessee Leads the Nation in Bankruptcy Filings Per Capita During the 1st Quarter of 2008
The National Bankruptcy Research Center, a data research company, reports that Tennessee holds the distinction of having the highest per capita number of bankruptcy filings in the country. According to the NBRC, Tennesseans are filing bankruptcy at a rate that will result in an annual bankruptcy filing rate of one out of every 56 households. (…)
March 22, 2008
- 6th Circuit Decides "Hanging Paragraph" Issue in Favor of Creditors
One of the most controversial topics arising from the BAPCPA changes ot the bankruptcy law has to do with the so-called "hanging paragraph" of Section 1325(a). Stated simply, Section 1325(a) does not clearly address what happens in a Chapter 13 if a debtor surrenders a vehicle back to a secured creditor if the vehicle is worth less than the outstanding claim. (…)
March 8, 2008
- As Foreclosure Rates Rise, Beware of Foreclosure Scams
With foreclosure numbers in Tennessee cities on the rise, it should come as no surprise that desperate homeowners are being targeted by scammers. Usually the scammers pitch promises to stop a pending foreclosure using a "secret provision in the law" or an alleged special relationship with mortgage lenders. (…)
