View this video here.[GRAPHIC: Rothschild & Ausbrooks, PLLC, ATTORNEYS AT LAW, 615-866-2265, Board Certified Consumer Bankruptcy Law Specialists, 1222 16th Avenue South | Suite 12 | Nashville, TN 37212] EDGAR ROTHSCHILD: A Chapter 13 is an adjustment of debts for individuals who have regular income. One of the main purposes of Chapter 13 is to stop a foreclosure or a repossession. For a first time filer, the stay is automatic. So the minute I file the case, they are deemed protected under the law and the creditor cannot proceed with any action to collect debt, which would include a foreclosure or a repossession. And once the case is confirmed, then money starts going out from the trustee's office to the creditor's. And as long as the debtor continues to make their payments, they enjoy the protection of the bankruptcy court. The automatic stay remains in place and they're allowed a chance to reorganize their debt. MARY BETH AUSBROOKS: We add all of your debts together. There's different rules on how different debts have to be paid back. We apply those rules to your debts. We examine your assets, your income, your monthly living expenses and put together a budget that will work with the repayment plan that we will calculate for you which will allow you to keep your house and your car and your other assets of value. EDGAR ROTHSCHILD: I have clients that I've represented for almost 30 years that have come in from time to time. They, they get into trouble and we are able to help them. I've seen so many thousands of different kinds of situations that I can analyze your situation pretty quickly and come up with various solutions for you that will work. So you're not just forced into one track. You're given the whole palate of choices that you can have and you can make an intelligent decision about what to do about your bills. [GRAPHIC: Rothschild & Ausbrooks, PLLC, ATTORNEYS AT LAW, 615-866-2265, Board Certified Consumer Bankruptcy Law Specialists, 1222 16th Avenue South | Suite 12 | Nashville, TN 37212] |
Saturday, July 31, 2010
Chapter 13 Lawyers Nashville Rothschild & Ausbrooks | Video Transcript
Rothschild & Ausbrooks, PLLC
1222 16th Ave. South, Suite 12
Nashville, TN 37212-2926
Map & Directions
Office Hours: 8:00 AM - 5:00 PM
Monday through Friday
Toll Freee: (866) 656-8909
Phone: (615) 866-2265
Fax: (615) 242-2003