Brentwood, Tennessee, Bankruptcy Attorney

Questions About Bankruptcy? Get Chapter 7 or Chapter 13 Relief.

  • Stop creditor harassment.
  • Stop collection letters and harassing phone calls
  • Discharge debts such as credit card debt, medical bills, personal loans
  • Discharge state and federal tax delinquency.
  • Prevent the termination of utility services.
  • Stop lawsuits from creditors.
  • Protect your home from foreclosure.
  • Stop wage garnishments and bank attachments.
  • Prevent repossession of a car or other property.

Are you experiencing overwhelming debt due to job loss, medical bills, divorce, credit card obligations, or mounting unpaid taxes? Do you lack basic knowledge regarding the bankruptcy process? Have you considered filing for bankruptcy but are not sure if it is the right decision for you? Do you fear that declaring bankruptcy will cause you to lose your home or permanently lower your credit rating?

Let Us Help You Sort Out The Facts And The Myths About Bankruptcy

The bankruptcy attorneys at Cole Law Group understand that you may have many questions regarding the advantages and consequences of filing for bankruptcy and are committed to helping you make an informed decision. We will review your financial history and advise you in an honest, straightforward manner whether or not bankruptcy is the right alternative for you. We will also take the time to throughly explain your options. Our attorneys focus on helping individuals and families who are drowning in debt get the relief they need through either Chapter 7 or Chapter 13 bankruptcy.

Identify The Best Bankruptcy Solution For Your Circumstances

Chapter 7

The main purpose of a Chapter 7 liquidation is to wipe out your debts and give you a fresh start. The process takes approximately 4-6 months. A Chapter 7 debtor will not be required to appear in bankruptcy court unless an objection is raised in the case.

When you file for bankruptcy under Chapter 7, an "automatic stay" is put on foreclosure proceedings, repossession efforts, garnishment actions, termination of utility service and other harassment by creditors. You will "wipe your slate clean" of unsecured debts such as credit card obligations, medical bills, and personal loans. However, student loans, recent tax debt, child support, alimony obligations, criminal fines and court restitution orders are not dischargeable and you will still be responsible for paying those debts.

In Chapter 7, the bankruptcy trustee sells all of your assets that are not exempt and the proceeds are distributed to your creditors. Property that is listed in the Tennessee bankruptcy exemptions chart, including insurance and retirement benefits, is exempt up to the designated amount. There are also certain federal exemptions that you may use in addition to your Tennessee exemptions. In most cases you can keep your home and automobile if your equity in the property is fully exempt. If you are paying off a loan on these assets and have kept the payments current, you may also be able to keep the property if you agree to continue making payments until the debt is paid in full.

Chapter 13

Chapter 13 bankruptcy, otherwise known as Adjustment of Debts of an Individual with Regular Income, is designed for a debtor who has a regular source of income, does not qualify for Chapter 7 relief under the means test, and wants to stop foreclosure on a home or repossession of a vehicle.

Chapter 13 eliminates debts upon completion of a tailor-made payment plan. The debtor makes payments to creditors, through a trustee, based upon the debtor's anticipated income over a period of 2-5 years. The debtor does not receive a discharge of debts until payments are completed under the plan.

Selection of a Chapter 13 bankruptcy plan offers the following solutions:

  1. It places your home under the protection of the U.S. Bankruptcy Court and stops foreclosure proceedings.
  2. It prevents your vehicles from being repossessed.
  3. It protects cosigners.
  4. It provides a broader range of debt relief by allowing more manageable payment terms for non-dischargeable debts related to child support, alimony, student loans, and taxes.
  5. It can reduce your unsecured debts (credit card, medical, personal loans).
  6. It allows you to keep personal assets.
  7. It stops interest from accruing on most of your debts and in some instances reduces the principal.
  8. Automatic stays that protect you from creditor harassment still apply.

Section 341 of the Bankruptcy Code requires that you (the debtor) attend a formal proceeding so that creditors can question you about debts and property. You may also be required to appear at a plan confirmation hearing before the bankruptcy judge.

Why Choose A Cole Law Group Bankruptcy Attorney?

At Cole Law Group we are committed to personalized service and addressing your financial issues in a positive and welcoming environment. Our bankruptcy team is dedicated to helping you discharge your debts and begin rebuilding your life. Contact us today for an initial consultation that will outline the path we recommend to put you on sound financial footing once again.

Cole Law Group represents clients in the following counties that are served by The Middle District of Tennessee Bankruptcy Court:

Cannon, Cheatham, Clay, Cumberland, Davidson, DeKalb, Dickson, Fentress, Giles, Hickman, Houston, Humphreys, Jackson, Lawrence, Lewis, Macon, Marshall, Maury, Montgomery, Overton, Pickett, Putnam, Robertson, Rutherford, Smith, Stewart, Sumner, Trousdale, Wayne, White, Williamson, and Wilson