Often times when potential clients come into my office to discuss their options in bankruptcy, they are a few months behind on their mortgage payments and some have already received a foreclosure notice.  So this bears the question, how do the two work together?   In a chapter 7 bankruptcy the bankruptcy filing unfortunately will not [...]

Tennessee exemption laws allow a debtor to keep a certain amount of property in a bankruptcy regardless of how much the debtor owes or owns.  In Tennessee, an individual filing a bankruptcy gets to keep $10,000.00 in assets, for a joint filing, that number doubles to $20,000.00.  The personal property exemption applies to household goods, [...]

If you have a personal injury claim and are also considering and/or filing a bankruptcy, it is important for you to disclose the personal injury lawsuit on your bankruptcy petition and here’s why.
Everyone who files bankruptcy in the United States must file a petition for bankruptcy and attach to that petition a set of ‘schedules’ [...]

When a debtor files a petition for Bankruptcy, the petition is assigned to a bankruptcy trustee for review, in addition, on the date of filing the debtor will get their court date.  The court date for the purposes of bankruptcy is called a Meeting of Creditors, or as lawyers call them a “341 hearing”, the [...]

One question some people may have when considering filing a bankruptcy is, how does the trustee really know what real and personal property I own? Well, it is first important to note that everything included in a bankruptcy filing is subject to the scrutiny of the United States Trustee, which is a branch of the [...]

AND THE ANSWER IS….
As most of us lawyers know, there is often no ‘right’ answer.  Each situation must be evaluated on a case by case basis, but the general consensus is bankruptcy. I will get into why in a minute, but first let’s hit on an issue that often comes up together with Bankruptcy and [...]

Often times when a debtor files a bankruptcy they are reluctant to take on future credit after they receive their discharge.  And rightfully so, because on many occasions overuse of credit cards and things of that nature is what lead them to a bankruptcy in the first place.
However; rebuilding your credit is an important part [...]

Starting July 1, 2010, the personal property exemption under the Tennessee state exemption laws for bankruptcy  increased from $4,000.00 to $10,000.00.  This information is available in the Tennessee Code Annotated  Section 26-2-103.
What does that mean to you, the debtor?
It means you will now have an additional $6,000.00 in available exemptions to protect your personal assets [...]

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