Bankruptcy Nashville

When you’re experiencing financial difficulties, filing for bankruptcy may be the best way to save your home and get creditors off your back. Bankruptcy gives you and your family a chance to start over with a clean slate. To learn more about if bankruptcy is the best option for your financial situation, fill out this form for a free case evaluation.

Filing Bankruptcy in Middle Tennessee

If you live in Nashville or Middle Tennessee, you can file for bankruptcy at the federal courthouses in Nashville. Columbia and Cookeville both have unstaffed offices; however, when you file with an attorney, the petition and schedules are filed electronically. You will have to attend a 341 Meeting of Creditors, and you may need to attend hearings prior to discharging your debt, depending on your situation.

Types of Bankruptcy

As an individual, you may file Chapter 7 or Chapter 13 bankruptcy. Chapter 7 will liquidate most of your valuable assets, while Chapter 13 allows you to keep many them, including your primary home. Chapter 11 is for businesses or individuals with a lot of assets, such as several rental homes, who wish to reorganize their debt. If you are a family farmer or fisherman, you may file Chapter 12 for debt relief.

Deciding to File

Bankruptcy shouldn’t be taken lightly – it’s crucial you speak with a lawyer first. A bankruptcy attorney will assess your circumstances and identify if bankruptcy is the best course of action or not. If it is, your attorney will help you decide which chapter fits your situation best.

The Bankruptcy Process

Once you meet with our Nashville bankruptcy attorneys and come to an informed decision, we’ll file a petition on your behalf. As soon as the petition is filed, an automatic stay is put in place prohibiting creditors from contacting you. Then, you’ll be assigned a judge and a trustee, and a 341 Meeting of Creditors will be scheduled. If you’re filing Chapter 13, you must create a payment plan prior to the meeting. Also, you are mandated to take a debt management course regardless of what type of bankruptcy you’re filing. Chapter 7 moves quite a bit faster than Chapter 13, and debt is usually discharged in a matter of months. Chapter 13 doesn’t wipe away your debt until the completion of your payment plan, which usually takes 3-5 years.

Debts That Cannot Be Discharged

Some debts are non-dischargeable through bankruptcy. However, you’re still able to include some in a payment plan. These debts include child support, IRS taxes, and student loans. If you want to keep your home, your mortgage cannot be discharged in a Chapter 13 bankruptcy. However, you may include the arrearages in your plan, so you’re not paying all the past due payments at once.

Contact Bankruptcy Lawyers in Nashville, TN

If you’re considering bankruptcy to relieve financial pressure, contact Morgan and Morgan. Our bankruptcy lawyers in Nashville, TN are passionate about finding the best solution for those dealing with extreme debt. We’ll assess your individual financial situation and determine if bankruptcy is the best option for you and your family. For more than 30 years, we’ve been helping people just like you start over with a clean slate. We treat every client like family and handle their cases personally, ensuring you get the best service possible. You’ll even have 24/7 open communication with your case staff via our mobile app.

Don’t go through bankruptcy alone – Morgan & Morgan is ready to be by your side during these trying times. Discover what our bankruptcy lawyers in Nashville, TN can do for you by filling out this form for a free case evaluation.

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