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Complex legal problems require attorneys who combine big firm experience and resources with close, client-centered service. We are those attorneys.

March 2016 Archives

Dating During Your Divorce...BEWARE!

thumbnail (1).pngAll is fair in love and war...well, the judge may differ with this opinion. Many persons going through a divorce experience a euphoric feeling of freedom during the initial phase of the case. It can be exciting, right? A new chance at true love. That confidence booster you really needed. Or perhaps time to do those things you have always wanted to explore. However, the most important issue to realize at this stage of your "new-found freedom" is that you may want to decline the impulse to date until such a time the Court has ordered your divorce FINAL.

How Do I File For Chapter 7 Bankruptcy?

A Chapter 7 bankruptcy is often referred to as a liquidation of debt. It allows the debtor to wipe out most unsecured debts, i.e., credit card debt, judgments, personal loans, etc. In order to qualify for Chapter 7 relief, you must be an individual, a partnership, corporation or other business entity. Relief is available regardless of the amount of debt that you have and regardless of whether you are solvent (able to pay debts by selling off assets) or insolvent (not able to pay off all debts by selling or mortgaging your assets). However, you are subject to the means test, which looks at "current monthly income" to determine if you are making or have previously made above the state median, which has been averaged over the last six months. If you make over the average median income, it must be determined after subtracting certain qualifying expenses, whether or not you have enough money left over to pay your debts. This is a way or "means" to weed out and prevent those individuals who can truly pay their debts from filing Chapter 7 bankruptcy.

Cole Law Group
750 Old Hickory Blvd
Building 2
Suite 202
Brentwood, TN 37027

Phone: 615-490-6020
Fax: 615-942-5914
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