Lefkovitz & Lefkovitz
Nashville Office
615-686-2279
Cookeville Office
931-528-5297
We help individuals and businesses find the right solution to their money problems.

June 2016 Archives

Retaining a tax refund in Chapter 13

Tennessee residents who have chosen to reorganize and repay their debt through a Chapter 13 bankruptcy filing may be interested in knowing whether there are any conditions under which they might be able to keep their annual income tax refund. Tax refunds are considered disposable income, and in Chapter 13, any disposable income earned by the debtor must be turned over to the bankruptcy trustee for distribution among the creditors. Under some conditions and with proper planning, however, the debtor may be able to retain at least of portion of these funds for personal use.

Administration introduces student debt forgiveness measures

College students in Tennessee and around the country who have been defrauded by their schools may find it easier to have their debt forgiven and pursue legal remedies under education reforms scheduled to be introduced by the Obama administration in June 2016. The measures, which were drafted by the Department of Education, also aim to prevent colleges that accept federal student loans from compelling students to agree to arbitration agreements. The reforms are primarily aimed at curbing the oft-criticized activities of for-profit schools.

The truth behind filing for bankruptcy: Medical debt

You say the word, "bankruptcy," and people immediately think, "that person (or business) must have been financially irresponsible." Bankruptcy carries such a stigma with it that people build up large piles of debt before they consider asking for help. It is time that we, as a society, change the stigma.

After Hulk Hogan win, Gawker files for bankruptcy

Tennessee fans of Hulk Hogan are probably aware that the wrestling star recently won a lawsuit against Gawker Media for $140 million. It has now been reported that Gawker filed for Chapter 11 bankruptcy protection and is offering its assets for sale. The company's bankruptcy petition was filed on June 10.

Discouraging myths about Chapter 7 debt relief

An option available to Nashville debtors unable to get their bills under control is often overlooked due to persistent myths. These myths can be detrimental by delaying debt relief for consumers and denying them the consumer protections available under bankruptcy law. Tennessee residents suffering from persistent debt, creditor harassment and the threat of losing personal property to repossession will want to consider all the options without prejudice.

A Chapter 7 bankruptcy trustee may liquidate assets

Residents of Tennessee who find that they require a fresh financial start may consider filing for Chapter 7 bankruptcy. A successful Chapter 7 results in the court discharging a debtor's financial responsibility to pay back his or her unsecured debt. Often, the debtor may end up paying back very little of the debts he or she incurred. In fact, some debts may not need to be repaid at all.

Nashville Office
618 Church Street, Suite 410
Nashville, TN 37219

Phone: 615-686-2279
Fax: 615-255-4516
Nashville Law Office Map

Cookeville Office
312 East Broad Street, Suite A
Cookeville, TN 38501

Phone: 615-686-2279
Fax: 931-526-6244
Cookeville Law Office Map