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

April 2018 Archives

When bankruptcy is a good choice

Residents of Tennessee might consider bankruptcy to be a last resort solution to debt. However, in some cases, bankruptcy could actually be a smart choice. The stigma associated with bankruptcy often causes people to avoid it by taking other steps to pay off debts. But some of those, experts say, could be more harmful than bankruptcy, like using retirement savings to pay bills.

How tax debt is treated in bankruptcy

The rules associated with filing for bankruptcy in Tennessee can be complicated. For example, a tax debt can be discharged in a bankruptcy under certain circumstances. However, this depends on the type of taxes owed, the priority the debt is given and how old the debt is. As a general rule, a person cannot discharge tax debt if it is in an effort to evade taxes owed.

Effective tips to getting past a bankruptcy

While nobody wants to file for bankruptcy, it can be a way to help a person overcome financial issues such as a medical expense or job loss. Those in Tennessee or elsewhere who need to file should work with a financial adviser to make a plan that will help them get through the bankruptcy. Acknowledging that a filing is necessary can be better than allowing money problems to get worse.

How rising interest rates impact consumers

While a strong economy offers many benefits to Tennessee residents, it can also lead to higher interest rates and more debt. As the economy strengthens, individuals may first accrue more debt than they can actually afford to pay off in a timely manner. After they acquire the debt, rising interest rates push monthly payments higher, which can make them harder to keep up with.

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Bankruptcy help for everyone, from the most simple to the most complex cases.

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Contact our Nashville office at 615-686-2279 or our Cookeville office at 931-400-2218. You can also reach us via email to set up a time to talk to us about your debts.

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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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