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

June 2018 Archives

Why people wait so long to file for bankruptcy

Tennessee residents who have medical, credit card or any other type of debt that can be discharged through bankruptcy should file as soon a possible. This is also true for those who have a debt-to-income ratio that is higher than 40 percent. The longer a person waits to file, the less likely it is to get a fresh financial start because of asset depletion. In some cases, individuals don't even buy food to help avoid bankruptcy.

What to know about filing for Chapter 13 bankruptcy

When an individual in Tennessee is struggling to pay his or her debt, it may be possible to file for Chapter 13 bankruptcy. Debts are repaid according to a plan approved by the court, and a plan must be submitted within 15 days of filing for bankruptcy. A judge will make a decision as to whether to confirm the plan within 45 days of a meeting with creditors. Creditors then have 25 days to object to a plan.

How to purchase a vehicle while in Chapter 13 bankruptcy

When Tennessee residents file for Chapter 13 bankruptcy, they are given either three or five years to complete the repayment program. During this length of time, it is common for someone to need a new vehicle. Fortunately, it is possible to finance a new car while going through bankruptcy. However, the purchase will require approval from the court.

When bankruptcy meets music: Gibson guitars files for Chapter 11

Nashville is known throughout the world as Music City because of the incredible proliferation of live and recorded musical artistry that has taken root and thrived here. While the music itself is alive and well, many Nashville businesses struggle with financial problems just like individuals do. One example is Gibson Brands, Inc.

Understanding Bankruptcy

In 2015, Tennessee had the highest rate of bankruptcy filings in the nation; as a matter of fact, the number of filings there was twice the national average. Ergo, the citizens of this fine state are no strangers to the terror that comes with the possibility of not being able to meet their obligations. Moreover, the entire process of filing for bankruptcy can be confusing given the amount of legal red tape surrounding the whole process. For instance, plenty of people are confounded by the difference between Chapter 7 and Chapter 13 bankruptcy.

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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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