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.

June 2017 Archives

Filing for bankruptcy: What will my friends think?

Financial struggles can carry an embarrassing stigma that most of us would like to avoid. To some people, filing for bankruptcy is a horrifying idea that would make them look bad and seem irresponsible or weak in the eyes of their friends; to others, the difficulty is a more subtle sense of shame and guilt.

How interest rate hikes impact credit card debt

Tennessee residents may have heard about the Federal Reserve's decision to raise the federal funds rate to between 1 and 1.25 percent. This is the second time that rates have been raised this year, and a third hike could come later in 2017. For those with mortgages or home equity loans with variable rates, it may be a good idea to pay them off faster or refinance to a fixed-rate loan.

Strategies for getting credit card debts under control

Tennessee residents who are experiencing financial troubles have options for getting credit card debts under control. People with decent credit ratings could have the option of transferring debts to a new credit card that offers zero percent interest on balance transfers. This move might grant a holder six months to two years of interest-free time to pay down the balance.

Modifying a Chapter 13 payment plan

When Tennessee debtors seek relief from overwhelming financial obligations by filing Chapter 13 bankruptcies, they enter into payment plans lasting either three or five years. Bankruptcy courts approve these payment plans as long as they are realistic and equitable, but they may be modified or revised in certain situations. Some bankruptcy judges have ruled that borrowers must be able to establish that their financial situations have changed substantially before modifications can be granted, but other courts have taken a different approach.

3 dangers of credit card debt

Many Tennessee residents have high amounts of credit card debt. In fact, among U.S. households, the typical credit card debt is about $5,700, and the average age of those with the highest amount of credit card debt are those between the ages of 45 and 54, according to a report by ValuePenguin. While credit cards can be helpful to pay for unexpected needs, they can cause serious long-term problems for people.

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