Bankruptcy Changes and How They Impact You

Seasoned Nashville Bankruptcy Changes Lawyers

Are you aware of recent bankruptcy changes? The Federal Rules of Bankruptcy Procedure (FRBP) can change every year, and recent changes can have an impact on you. Every situation is different and requires an analysis by an experienced bankruptcy attorney. That is why it is so important that you consult with an attorney to discuss whether bankruptcy changes will affect your recent bankruptcy filing or whether you should file for bankruptcy at all.

Do not wait to seek our help. Find out about changes in bankruptcy laws today. Contact Rothschild & Ausbrooks, PLLC, to schedule a free initial consultation.

At Rothschild & Ausbrooks, PLLC, our Nashville bankruptcy attorneys can help you understand recent changes in bankruptcy laws and how they impact your specific financial situation. With more than three decades of experience helping people in Nashville and throughout Tennessee, our attorneys keep up with the latest changes in bankruptcy and how they can impact our clients. Let us help protect your rights and your financial future.

Recent Changes in Bankruptcy Law

As of December 2011, there have been some significant changes in the Federal Rules of Bankruptcy Procedure (FRBP). The main change impacts filing a proof of claim. This affects claims that creditors make against individual debtors. In the past, creditors simply had to attach a writing to support their claim. Now under these new amendments, proof of claims must include more detailed information such as an itemized statement. If a creditor fails to provide proper proof of claim, he or she can face sanctions.

Changes that are not as recent but are of greater impact to individuals filing for bankruptcy happened in 2005. A huge overhaul of the Bankruptcy Code created stricter guidelines and eligibility requirements for those seeking Chapter 7 bankruptcy. The advantage of Chapter 7 is that unsecured debt can be discharged, but the tighter eligibility guidelines have caused more people to look to Chapter 13 bankruptcy as an alternative. We can examine your specific financial situation and determine whether these changes impact your eligibility for Chapter 7 bankruptcy or if Chapter 13 bankruptcy is the better fit.

Contact Us for a Free Bankruptcy Consultation

Find out more about changes in bankruptcy law and how they impact your particular situation. Please contact Rothschild & Ausbrooks, PLLC, today to schedule your free bankruptcy consultation.