On behalf of Lefkovitz & Lefkovitz | Jan 13, 2020 | Chapter 7
Many people in Tennessee and across the country struggle with massive amounts of student loan debt. Historically, there have long been serious difficulties in discharging this debt in bankruptcy, even as the process can work effectively to handle other forms of...
On behalf of Lefkovitz & Lefkovitz | Jan 6, 2020 | Chapter 7
Filing for Chapter 7 bankruptcy may help Tennessee residents and others eliminate some or all of their debts. However, some debts such as payroll taxes owed or back child support cannot be eliminated in a Chapter 7 filing. It is also unlikely that student loan debts...
On behalf of Lefkovitz & Lefkovitz | Dec 26, 2019 | Chapter 7
Americans owe a total of $1.59 trillion in student loan debt. However, many Tennessee residents and others who carry student loan balances won’t be able to discharge them in bankruptcy. For some, it is because they don’t qualify to file for Chapter 7...
On behalf of Lefkovitz & Lefkovitz | Nov 25, 2019 | Chapter 7
Over 137 million Americans in Tennessee and nationwide are struggling with the crushing weight of medical debt. Despite widespread concern about the broken nature of the nation’s health care system and the passage of the Affordable Care Act, people continue to...
On behalf of Lefkovitz & Lefkovitz | Nov 20, 2019 | Chapter 7
Every year, people in Tennessee flock to the stores on Black Friday and head to their favorite websites on Cyber Monday in the hopes of saving money on holiday gifts and other products. While the deals offered on Black Friday can be appealing, they can contribute to...
On behalf of Lefkovitz & Lefkovitz | Nov 9, 2019 | Chapter 7
Until 2018, homeowners in Tennessee could cancel up to $2 million in mortgage debt without incurring a tax bill. This was true for those who lost a primary residence through a short sale or foreclosure. However, this perk expired at the end of 2017 and is unlikely to...
On behalf of Lefkovitz & Lefkovitz | Oct 24, 2019 | Chapter 7
Filing for bankruptcy in Tennessee and other states can cost up to $4,000 after accounting for filing and attorney fees. Those who are filing for Chapter 7 bankruptcy will pay a filing fee of $335 in addition to paying an attorney up to $1,500. Debtors who are seeking...
On behalf of Lefkovitz & Lefkovitz | Oct 21, 2019 | Chapter 7
Bankruptcy has been able to help some Tennessee residents get a fresh start financially, allowing them to save money and avoid taxes on discharged debt. However, it is not always the best move for everyone and certain precautions need to be taken. One thing that a...
On behalf of Lefkovitz & Lefkovitz | Oct 19, 2019 | Chapter 7
Debt has become a constant companion for most Tennessee residents. Hopefully, ‘good” debt is used as leverage to further advance economic interests and ‘bad” debt is minimized and managed only as a tool of last resort. Unfortunately, unexpected...
On behalf of Lefkovitz & Lefkovitz | Sep 13, 2019 | Chapter 7
Losing medical care on even a temporary basis can double a person’s risk of declaring bankruptcy. This is according to a study published by the American Bankruptcy Institute that looked at data available through the Bureau of Labor Statistics (BLS). The study...
