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

October 2018 Archives

Filing for bankruptcy when "the economy is good"

Plenty of myths surround our personal struggles with debt and the state of our national economy. One largely-unspoken myth is that everyone is "doing well" financially -- or at least doing better -- when the economy is said to be in a good place. By certain measures, the American macro-economy has been healthy in 2018, but millions of Americans are still struggling to pay their bills.

What to know about Chapter 7 bankruptcy

Individuals and business owners who are looking for a way to handle their debt may wish to file for bankruptcy. Chapter 7 is one of the most common forms of bankruptcy, and it involves liquidating assets and using the funds to pay creditors. Some assets may be exempt from liquidation, which means that a debtor gets to retain those items even after filing. If a business files for Chapter 7 protection, it will no longer remain in operation.

Avoiding credit card debt

Many debtors in Tennessee who are struggling to pay their bills cut their credit cards to avoid overspending. While this may seem like a smart way to avoid new debts, credit cards can be an asset for those trying to rebuild credit.

Credit card debt settlements aren't always ideal

It may be possible for Tennessee consumers to settle credit card debt for less than what they owe. However, it is important to consider the potential consequences of doing so. For example, a debt settlement may only be available to those who can show evidence of a financial hardship. Individuals who are planning on settling their debt should also understand that they can do so on their own without going through a third party.

We Look At Your Case From Every Angle To Find The Solution That Is Right For You

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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