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.

January 2017 Archives

How to time a car purchase when considering bankruptcy

Tennessee residents may be wondering if it makes sense to buy a car before filing for bankruptcy. Those who are filing for Chapter 7 bankruptcy could actually benefit from such a purchase because the equity in their vehicles may be exempt from creditors. Paying for the vehicle with cash would potentially reduce the amount of money in a bank account that creditors may have access to.

Caesars ready to restructure debt in 2017

Tennessee residents may be interested to learn that Caesars Entertainment Corporation and Caesars Entertainment Operating Company, Inc. are filing for Chapter 11 bankruptcy. The U.S. Bankruptcy Court for the Northern District of Illinois confirmed the bankruptcy reorganization plan, and CEOC is now ready to begin a restructuring process that will be overseen by the bankruptcy court.

Spouses filing separate bankruptcies: A question of IF and WHEN

Married people can get confused about how to utilize Chapter 7 or Chapter 13 bankruptcy protection. Some couples with excessive debt -- whether it is related to an illness, a job loss, a business issue or another problem -- know bankruptcy can help bring relief, but they may be unclear about whether they should file together or separately, which can be more expensive and complicated.

CPFB report reveals debt collector abuse and harassment

Debt collectors make thousands of calls to Tennessee residents every day, but more than half of these communications are based on inaccurate information or are being made to the wrong person according to a report published on Jan. 12 by the Consumer Financial Protection Bureau. The report, which is based on surveys returned by more than 2,000 American consumers, also reveals the widespread disregard of federal regulations by the companies that make up the $13.7 billion debt collection industry.

Ways to better manage credit debt

Tennessee residents may have heard that the Federal Reserve raised interest rates near the end of 2016. This could make it more expensive to repay credit card debt. On average, an American household pays $1,300 a year in credit card interest. However, there are some easy ways in which people can start to reduce their credit card debt. For instance, it may be worthwhile for them to consolidate their debt.

The problem with bankruptcy myths: They can hurt your family

When you're in financial trouble, your friends and family sincerely want to help. Everyone seems to have an opinion about what you should do to improve your situation and find relief. You can find plenty of "advice" on social media and in the "news," but how much of it is true and applicable to your financial circumstances?

Is it possible to keep my house in bankruptcy?

Financial difficulties can be incredibly stressful, whether they are caused by a job loss, a divorce, an illness or another problem. A person can lose sleep, feel powerless and suffer multiple symptoms of depression and anxiety. Above all else, some homeowners are terrified of losing their home during a hard time.

Is it possible to recover from massive medical debt?

If you or someone in your family has spent time being treated at a hospital recently, you know how expensive medical care is. Whether someone suffers a serious injury from a car accident, faces a cancer diagnosis or experiences a heart attack, the costs mount quickly, almost instantly becoming overwhelming.

3 requirements for hardship discharge of Chapter 13 bankruptcy

Under a typical Chapter 13 bankruptcy agreement in Tennessee, the court grants a debtor three to five years to make payments toward a settlement that supplies creditors with a portion of the funds owed. The court determines the settlement and payment formula based on a person's income. Only certain situations allow someone to deviate from the terms, and three conditions must be satisfied before a court will grant a hardship discharge of debts.

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