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

February 2019 Archives

Vehicle repossession and filing for bankruptcy

Some people in Tennessee who are facing repossession of their vehicles might consider filing for Chapter 13 bankruptcy. This would potentially allow them to restructure a payment plan and keep the vehicle. However, there may be other alternatives that the person can try before bankruptcy.

Reasons to consider bankruptcy as opposed to foreclosure

If a Tennessee resident is struggling to keep up with a mortgage payment, it may be possible to ask for a loan modification. However, there is no guarantee that a lender will allow this to happen. If a lender does not want to modify the terms of a home loan, a homeowner could choose to file for bankruptcy. This may postpone the foreclosure process, which generally begins two or three months after a missed mortgage payment.

Discharging student loans in a bankruptcy

With student loan debt increasing throughout the U.S., many college graduates in Tennessee may be tempted to turn to bankruptcy. While students loans were dischargeable in bankruptcy prior to 1976, Congress has amended bankruptcy laws several times. Since 1998, public student loans have not been allowed to be discharged in bankruptcy absent a showing of undue hardship. In 2005, Congress made the same provisions with respect to private student loans.

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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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