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Chapter 7 Archives

Tennessee is among the states with most Chapter 7 filings

Even with bankruptcy rates declining, there are many areas of the country where people struggle with debt. According to a recent report, states in the south had higher rates of bankruptcy than other parts of the country. Tennessee reported the most overall bankruptcies. For people seeking to get out from under the burden of debt, Chapter 7 seems to be the type of bankruptcy that provides the most relief.

Options for managing medical debt in Tennessee

After dealing with a major injury or illness, the last thing someone in Tennessee wants to face is the hassle of medical bills. The cost for hospital stays, diagnostic tests, therapy and lab fees can add up quickly and leave a person facing a mountain of medical debt. Getting a handle on it from the beginning may prevent the situation from getting out of hand.

Student loans and Chapter 7 bankruptcy

Of all the debts that a young person can face in America today, student loan debt is by far the most prevalent. Tennessee students already likely know that it is almost impossible for such a debt to be discharged, even in the case of a Chapter 7 bankruptcy filing. However, "almost" impossible does leave room for certain special considerations to be made. 

Startup company files for Chapter 7 bankruptcy

An otherwise-successful technical startup company has sadly closed its doors, according to business news. Predictify.Me, known to some Tennessee business aficionados for developing algorithms meant to predict social and commercial challenge outcomes, has filed for Chapter 7 bankruptcy. The company was founded in 2014 and filed for bankruptcy in June of this year. 

Pop-up restaurant declares Chapter 7 bankruptcy

A company famous for hosting pop-up dinners the nation over has filed for bankruptcy after declaring its intentions to cease operations back in April. Tennessee residents might be familiar with Dinner Lab, which is based in another state and filed for Chapter 7 bankruptcy on June 8. This process will involve the liquidation of company assets to satisfy creditors. 

Bargain furniture store files for Chapter 7 bankruptcy

Popular furniture outlet Holladay House and Home Center has closed its doors for good, according to business news sources. The bargain furniture outlet has been in business for several years, but its ownership has now filed for Chapter 7 bankruptcy. As some Tennessee business owners know, sometimes the decision to file for bankruptcy is the most financially responsible one a company can make. 

Code Rebel files for Chapter 7 bankruptcy

A software and IT firm has closed its doors as of May 19, according to sources local to the business. Tennessee IT professionals may be familiar with Code Rebel, which filed for Chapter 7 bankruptcy, allowing a court-appointed trustee to assume control of the company's assets. The company has been active since 2007, after being founded in Hawaii. 

Biodiesel company files for Chapter 7 bankruptcy

The green energy industry is challenging. Tennessee residents can understand, then, why a biodiesel company has recently filed for Chapter 7 bankruptcy in a federal court located in its home state. WB Services closed its doors several months ago and has since filed for bankruptcy, citing unmanageable debt. 

Chapter 7 bankruptcy can sometimes discharge student debt

It is often taken for granted that student debt is among the unique types of debt that cannot be discharged through bankruptcies. This is a good rule of thumb to follow because it is very difficult for a bankruptcy court to forgive student debt. However, it may come as a surprise to Tennessee residents that in some rare cases, student debt can be discharged through Chapter 7 bankruptcy. 

Coffee chain files for Chapter 7 bankruptcy

A small coffee chain in another state has shut its doors after a difficult financial period, according to local business news. Genessee Coffee has filed for Chapter 7 bankruptcy, citing untenable debt. Thankfully, as Tennessee residents know, bankruptcy offers debt forgiveness and the dissolution of assets in order to help company owners recover from debt. 

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