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

July 2017 Archives

Dangers of debt consolidation loans

When deeply in debt, some Tennessee residents may try to avoid bankruptcy by consolidating their bills via another method. Debt consolidation loans are a common method, as are assets like retirements accounts or home equity lines of credit. These strategies may save money by lowering interest rates, but they rarely solve an individual's real debt problem.

How retirement plans are treated in personal bankruptcy cases

Tennessee residents who are struggling with overwhelming bills may pursue debt relief by filing Chapter 7 or Chapter 13 bankruptcy petitions. While these individuals may be most concerned with their immediate financial situations and making ends meet, they should also be aware of how personal bankruptcies can impact long-term investments like 401(k) and IRA retirement plans.

Problematic debt: 5 signs that Chapter 7 could improve your life

A serious debt problem can affect every area of your life. You may be consumed with anxiety about bills you can't pay. You may feel hopeless and come across as angry and irritable with your spouse, children or other family members. You may be exhausted and unable to be your real self. These are normal responses to high stress that you can't break on your own.

Secured creditors must file proofs of claim before deadline

Tennessee residents who believe bankruptcy is the option that best suits them may be interested to know that according to a bankruptcy court ruling, secured creditors are not allowed to file proofs of claim late. Generally, only unsecured creditors are required to file proofs of claim in order to receive payments under a Chapter 13 bankruptcy plan. Nevertheless, if secured creditors want to receive payments as well, then they must file their proofs of claim in a timely manner.

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

Phone: 615-686-2279
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

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