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chapter 7 bankruptcy Archives

Revoking a discharge from a Chapter 7 case

A significant portion of Nashville residents may presume that bankruptcy laws are misused. This likely comes from stories of celebrities or other people who are perceived to be "well to do" filing for bankruptcy yet continuing to enjoy seemingly lavish lifestyles. The truth, however, is that several regulations are in place to keep people who might be trying to use a personal bankruptcy for uses other than what it has been intended from doing so. 

Why must you complete credit counseling prior to bankruptcy?

If you are like most of those in Nashville for whom personal bankruptcy is looking more and more like its your only viable option to get out of debt, then you may adopt an attitude of just want to hurry through it and get it done. Your desire is understandable; this likely represents a chapter in your life that you would rather put behind to be able to move on to a brighter financial future. Unfortunately, bankruptcy court proceedings will sometimes try to slow the bankruptcy process down to both prevent the privilege from being abused as well as ensure if it is indeed the best option. 

What Should I Know About Filing for Chapter 7?

If you’re considering your bankruptcy options in Nashville, you may be wondering whether Chapter 7 is the best decision for you. While many people opt for Chapter 7 in order to get themselves back on track financially, it’s important for you to have all the facts before moving forward. That’s why offers the following information on Chapter 7 to help you determine whether this option will satisfy you financial needs.

Student loan debt: a light at the end of the tunnel?

Countless Tennesseans struggle with student debt; some even carry this burden for decades. A financial stressor that can cripple the wallet and affect one's overall quality of life, student loan debt is a topic that has plagued America over recent years. Fortunately, there could be a light at the end of the tunnel.

What is the truth about bankruptcy?

There is a lot of information to be found about the damage bankruptcy can do to your future. There is also plenty of information about its benefits. It is likely that you have heard exaggerated stories on both sides of the issue. So which is true? Maybe both. As with all things in life, there are pros and cons to each situation, and you will need to weigh them all carefully before deciding what is best for you. Here are some things you should know about a Chapter 7 bankruptcy in Tennessee, which does not involve a repayment plan.

Understanding chapter 7 bankruptcy

When extended periods of financial pressure have taken their toll, filing bankruptcy can appear as a light at the end of the tunnel. However, many Tennesseans in these tough situations are confused in regard to what, exactly, bankruptcy might mean. Above all else, Chapter 7 bankruptcy aims to help consumers get back on a balanced financial track and get back to their lives. Below are some additional aspects involved in this type of plan.

Is higher education worth student loan debt?

It is a major topic of debate, and also a primary concern for millions. It is both a necessary expense and a dark cloud that can follow graduates for decades. Student loan debt has been in the spotlight for years, as it simultaneously symbolizes a higher education and, more recently, years of ongoing struggle. As a result, some have turned to bankruptcy. This leads many Tennesseeans to ask, is excessive student loan debt worth the satsifaction of earning a degree?

Can I ever have good credit after a Chapter 7?

If you are one of the many people in Tennessee who is feeling the pressure of mounds of debt that only seem to rise despite your best efforts, you may well have given thought to filing for bankruptcy. While it might sound good to know that you could relieve yourself of some of the debt you owe and cannot pay, you might also be concerned about the long-term impact on your credit of filing for a Chapter 7 bankruptcy. 

Can you stop wage garnishment?

Tennessee residents who fall into debt will eventually find themselves being targeted and potentially even threatened by collection agencies. Commonly, these agencies will garnish your wages in order to collect your debt payments from you. This can have a hugely negative impact on your finances, especially if you're the primary financial support in your household. But can it be avoided?

Understanding the bankruptcy means test

Residents in Tennessee who are considering filing for bankruptcy should educate themselves about the process as part of determining whether or not a Chapter 7 bankruptcy really is the right option for them. One of the steps that people pursuing bankruptcy must complete is to take what is called the means test. 

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Rothschild & Ausbrooks, PLLC
1222 16th Avenue South, Suite 12
Nashville, TN 37212

Toll Free: 866-656-8909
Phone: 615-866-2265
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Nashville Bankruptcy Office