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Chapter 13 Archives

Are some professions more at risk for bankruptcy than others?

You may be under the impression that everyone who files for bankruptcy in Tennessee is a low-income individual. While a little over half of people who file for bankruptcy earn less than $30,000 per year, the rate of higher income people filing for bankruptcy is on the rise according to the Fiscal Times.

How do I know if a student loan relief program is legit?

Unfortunately, there are many scammers out there looking to take advantage of people in order to make a quick buck. If you have student loans, the payments can be costly and it may be tempting to accept an offer of help from a company who promises to lower your payments or have your debt forgiven altogether. However, if that company requires any sort of upfront payment or charges you monthly fees, you can rest assured that it is not a legitimate company.

Lottery winners at larger risk for bankruptcy

Last week's record setting Powerball jackpot had three big winners. The only ones to come forward publicly so far are a couple from Tennessee. The Tennessee Lottery reports that the spouses will walk away with a lump sum cash payment of more than $300 million. While such an incredibly large windfall sounds like a dream come true, in reality many lottery winners eventually end up in a worse financial situation after their big win and many go on to declare bankruptcy.

What to do if you can’t make your Chapter 13 payments

What happens if you become unable to pay your Chapter 13 bankruptcy payments? At Rothschild & Ausbrooks, PLLC, this is a question we hear often from beleaguered clients in Tennessee. The bankruptcy process may be stressful enough when things are going smoothly. If you are trying to hold onto your home and other assets in a Chapter 13 bankruptcy, unexpected financial difficulties can only increase this fear and stress.

What happens during the meeting of creditors?

When you file for Chapter 13 bankruptcy protection in Tennessee, you will be required to attend what is called the meeting of the creditors, or a 341 meeting. According to the United States Bankruptcy Court for the District of Columbia, this is a meeting that occurs between you, your creditors and the trustee assigned to your case. If you are filing for bankruptcy with your spouse, both of you must come to this meeting. Failure to do so could lead the trustee to ask the bankruptcy court to take legal action against you or dismiss your bankruptcy filing.

Understanding Chapter 13 repayment plans in Tennessee

Like many in Tennessee who are considering bankruptcy, you may have thought about filing for Chapter 13 bankruptcy. As such, you are likely aware that doing so means you will pay back all, or a portion, of your debts through a repayment plan. At Rothschild & Ausbrooks, PLLC, people often ask us how these plans work. In this post, we will discuss how repayment plans are established, and how they are carried out.

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

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