Lefkovitz & Lefkovitz
Nashville Office
615-686-2279
Cookeville Office
931-400-2218
Serving all of Middle Tennessee's Bankruptcy Needs
We help individuals and businesses find the right solution to their money problems.

September 2016 Archives

Court finds that attorney fees were domestic support obligation

Tennessee residents who are preparing to file for Chapter 13 bankruptcy and who owe domestic support obligations may want to know about a decision out of the U.S. Court of Appeals for the 7th Circuit. The case involved a debtor who was ordered to pay $25,000 to his ex-wife's lawyer in a divorce case. The appeals court found that it was a domestic support obligation and thus not dischargeable in bankruptcy.

Signs that people need financial advice

Debt is one of the main reasons why Americans have a hard time savings. In fact, one in three Americans have nothing saved for retirement while 62 percent have less than $1,000 in a savings account. For Tennessee residents who are having trouble with their finances, it may be a good idea to visit with a credit counselor. One warning sign that it may be time to talk with such a person is if monthly expenses exceed monthly income.

Switching from high interest debt to low interest debt

Many Tennessee residents use credit cards to make purchases and then end up with a high credit card balance that they cannot afford to pay off. Because credit card debts have the highest interest rates of just about any form of obligation, it can be very difficult for credit card holders to get their balances back down to zero.

5 reasons you shouldn't wait to file bankruptcy

Unfortunately, many people wait far too long to file for bankruptcy protection. In fact, many will first try any other option available before even considering bankruptcy as a solution to their financial problems. They cash out their retirement accounts, refinance their homes and even borrow money from friends and family just to keep afloat - mistakes that can prove costly down the road.

Refinancing a mortgage after bankruptcy

Tennessee residents who have just filed for Chapter 13 bankruptcy may be eager to get back on their feet by making all of their plan payments on time and rebuilding their credit. However, high monthly mortgage payments can sometimes make it more difficult for people to stick to their monthly budget after bankruptcy.

Southern states ― particularly Tennessee ― have some of the highest bankruptcy rates

According to a recent review of federal bankruptcy data conducted by NerdWallet - a financial information organization - six out of the 10 states with the highest personal bankruptcy rates can be found in the South. Topping the list with 553 bankruptcy filings per 100,000 residents is Tennessee.

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

Phone: 931-400-2218
Fax: 615-255-4516
Nashville Law Office Map

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

Phone: 931-400-2218
Fax: 931-526-6244
Cookeville Law Office Map