Bankruptcy Knoxville

A lot of people feel shame about bankruptcy. They worry that it makes them a social pariah. They fear others will know and condemn them for it. But as you consider whether or not to file, consider a few points. Unless you tell people about it, it’s unlikely anyone will know about your bankruptcy. It is public record, but unless you’re famous or related to someone famous, it’s not likely to make the news. And while there used to be a social stigma surrounding bankruptcy, that is not nearly as prevalent today.

It’s a sign of the financial turmoil we’re facing as a nation. The simple fact is more and more people need protection from creditors or else they will never realistically overcome their debts. That’s why we’re here – to help you. Knoxville bankruptcy filings are up just like they are everywhere else in the country. If you’re one of the people who need help, call us today for a free consultation.

For an interesting article about bankruptcy and the social stigma, read this article.

A common way for judgment to be collected is through wage garnishment. Can bankruptcy stop it? This article explains when it might or might not stop it:

“The short answer is yes. Once your case is filed, creditors are no longer entitled to garnish your wages for debts that existed at the beginning of the case. The only exception may be for on-going child or family support ordered by a court. This is a function of the automatic stay. The filing of a bankruptcy case, under any chapter of the Bankruptcy Code, triggers an injunction against the continuance of any action by any creditor against the debtor or the debtor’s property. 11 U.S.C. 362. In Chapter 13, the stay even protects co debtors who are liable with the debtor on consumer debts. The automatic stay gives the debtor protection from his creditors, subject to the oversight of the bankruptcy judge, and brings all of the debtor’s assets and creditors into the same forum, the bankruptcy court, where the rights of all concerned can be balanced.”

Read the full article here:
http://ezinearticles.com/?Will-Bankruptcy-Stop-Wage-Garnishments?&id=3183014