Many people fear that they will lose everything they own once they decide to file for bankruptcy. However, this belief is simply not true, especially in Tennessee. In fact, many people who file Chapter 7 bankruptcy are able to keep a great many of their assets, while...
Month: August 2016
Dispute about timing of earnings in bankruptcy case
Tennessee residents who are filing for bankruptcy should be careful to keep records about when they performed certain services and when they were paid for those services. In Massachusetts, an attorney who filed for bankruptcy under Chapter 7 was ordered to turn...
Commercial bankruptcies up 10 percent. Is it the right option for your business?
According to data recently provided by Epiq Systems Inc., and distributed by the American Bankruptcy Institute (ABI), commercial bankruptcies in the U.S. increased 10 percent in July 2016 when compared to the same month just one year earlier. This marks the ninth...
A “fee only” Chapter 13 plan
Couples or individuals in Tennessee with crushing debt may want to assess their personal financial circumstances to determine if bankruptcy would be appropriate. In some cases, the circumstances are such that there is no one-size-fits-all approach to the type of...
Protecting your business’ reputation during bankruptcy
With Donald Trump under public scrutiny for filing Chapter 11 bankruptcy protection multiple times in the past few decades, many businesses wonder how a bankruptcy will reflect on their own reputation and future business deals. Is there a way to shield your business...
Chapter 13 and personal injury settlements
A Tennessee debtor who is currently making payments under a court-confirmed Chapter 13 bankruptcy plan would need to modify the terms if new income enters his or her financial picture. Under such circumstances, the bankruptcy court would review the new information and...
Chapter 13 and returned funds
While filing for bankruptcy is something that most people don't want to do, there are situations in which it makes the most sense for their financial health. When people in Tennessee file for Chapter 13 bankruptcy, they know that they have to fulfill a court-approved...
I’m in over my head, and school’s to blame. Can I file bankruptcy to get rid of my student loans?
In an era where an undergraduate degree can cost an astounding $200,000, people often ask us whether bankruptcy can help them escape student loans. The unfortunate reality is that few people have the option to discharge (free themselves of) student loans through...
Escaping the credit card debt trap
Tennessee residents with unmanageable bills often get into trouble financially after a job loss or other unexpected setback. Few people in these situations have enough money put aside to cope for long without a paycheck, and credit cards allow them to make ends meet...