Lefkovitz & Lefkovitz
Nashville Office 615-686-2279 Cookeville Office 931-400-2218
Serving all of Middle Tennessee's Bankruptcy Needs

May 2017 Archives

Supreme Court rules stale debt claims allowed in Chapter 13

A Supreme Court ruling could directly effect Nashville citizens who are seeking debt relief. The 11th Circuit had ruled that a debt collector was in violation of the Fair Debt Collection Practices Act after it submitted a proof of claim on a time-barred debt to a bankruptcy court. The Supreme Court, however, said that this action did not violate the FDCPA clause prohibiting "false, deceptive, or misleading" practices.

Small business bankruptcy: know your options for moving forward

As a small business owner, you may be no stranger to financial struggles that threaten your business and perhaps even your personal assets. If you are in this situation, what alternatives there are to bankruptcy for getting debt relief? And if you do choose to file bankruptcy, what are the benefits and potential drawbacks of doing so?

Your worst fears about bankruptcy: Are they based on reality?

Virtually everyone has an opinion about bankruptcy. Some people think it's a sign of weakness, laziness or irresponsibility. Others swear that it is a smart, perfectly legal way to contend with nasty creditors. Still others see bankruptcy court as a place in which to deal pragmatically with life-altering problems that are outside of their control -- problems like illness, divorce or a job layoff. What do you think about bankruptcy?

How credit can be rebuilt after declaring bankruptcy

Tennessee consumers can take steps to improve their credit after a bankruptcy even though it will stay on the credit record for several years. The first step is to make a budget. This will help a person pay bills on time, and 35 percent of a FICO score is based on when payments are made. A budget should also allow a person to put money away into an emergency fund. About 10 percent of people who declare bankruptcy go on to do so a second time, and this emergency fund may provide the cushion needed to keep a person from sliding into debt again.

What bankruptcy CAN'T do for you as a consumer

If you’re reading bankruptcy blogs, it may be because you have an intractable debt problem. Maybe the problem is related to a divorce, a job loss, an expensive health issue, or a situation that seems like a business failure. Perhaps you’ve come to the realization that it’s impractical – or impossible -- to keep up with all your debt payments. Maybe it's time to consult a legal professional about how to get out from under the burden.

When shame overrides sanity: Your top 5 bankruptcy objections

Shame can be a powerful force in our lives, whether it's warranted or not. It can squash our dreams and lead us to defy logic and ignore our own good judgment. As bankruptcy attorneys, we see the power of shame in the lives of people facing excessive consumer debt: When the rubber hits the road, shame can keep us from seeking effective legal relief when we should. 

It's 2017, and medical costs still drive families into deep debt

We have the potential to thrive as a society. Yet, as the contentious political debates rage on, millions of Americans continue to struggle with the rising cost of health care. The New York Times recently quoted outspoken billionaire Warren Buffett, on the topic of tax as an impediment to business, as saying that “medical costs are the tapeworm of American economic competitiveness.” For some families, unforeseen medical expenses are indeed a destructive parasitic force that threatens to consume them financially.

Trustee erred in amending payments according to ruling

Tennessee residents may have an understanding of a trustee's role in a Chapter 13 case. A ruling by a judge from the U.S. Bankruptcy Court for the Southern District of Texas further clarified what a trustee is not allowed to do when it comes to adjusting payments retroactively. In this case, a trustee retroactively adjusted 25 different plan payments in the McAllen, Brownsville, and Corpus Christie divisions.

Debt collector tactics evolving thanks to technology

Tennessee consumers who have fallen behind on their bills could find themselves being contacted by debt collectors in new ways. Two new methods include the use of avatars and voice mails that arrive on a person's phone without making a sound. Consumer groups are upset by the new tactics, but managers at debt collection companies say that the tools actually benefit consumers.

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

Phone: 615-686-2279
Fax: 615-255-4516
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Cookeville Office
312 East Broad Street, Suite A
Cookeville, TN 38501

Phone: 931-400-2218
Fax: 931-526-6244
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