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

July 2018 Archives

Loans after bankruptcy mostly determined by credit score and time

Business owners in Tennessee with bankruptcies on their records still could have opportunities to obtain new loans. People who have rebuilt their credit scores might secure financing from some institutions. Lenders also give less weight to bankruptcies that occurred years ago.

How to resolve past medical debts in collection

According to the National Consumer Law Center, over half of all accounts in collections are medical debts. Tennessee residents who aren't sure if they owe a medical debt attributed to them should first contact their insurance company to confirm that it is legitimate. If the bill is legitimate, it may be possible to negotiate a lower balance. Individuals can use a medical debt advocate to help with negotiations.

Debt management plans (DMPs) vs. Chapter 7: Is one more ethical?

Most people struggling with serious debt will admit, under the right conditions, that it's stressful and horrible. They will do almost anything to escape the collections calls, threatening letters and constant fears and get to a place of economic peace. But what's the best way to do that? When is bankruptcy an appropriate move?

When creditors don't abide by the terms of a stay

When a person in Tennessee or any other state files for bankruptcy, he or she is usually granted an automatic stay of creditor actions. However, this stay can be violated if a creditor didn't know about the bankruptcy or wasn't aware of the law. In the event that the creditor knew about the bankruptcy, any violation of the stay could be considered willful.

Tennessee consumers and credit card balances

According to one report, 43 million people around the United States who have credit cards believe that having a balance can improve their credit scores. The report details the result of a June 2018 survey that had 1,000 adult respondents.However, according to one senior industry analyst, this is a myth. While how close individuals come to charging up their spending limit is included in the five main benchmarks that create a credit score, having a credit card balance is not.

Understanding debt types

Many people living in Tennessee and around the country regard debt as a negative thing. However, the reality is that most people at one point or another will go into debt, often for good reasons. Instead of fearing debt, it is often best for people to take a more balanced look at the reasons, both good and bad, for borrowing money or using credit.

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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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