URGENT UPDATE: Due to COVID-19, We Can Now File Your Bankruptcy Over The Phone With $0 Down Options. No Office Visit Required. Call (423) 479-4188. FREE CONSULTATION. Open Monday – Friday from 8:00 AM – 5:00 PM.

navigation
Richard Banks & Associates, P.C.
free consultations
local: 423-244-0009
toll free: 866-596-8527
Practice Areas

February 2020 Archives

Inaction may still cause trouble in bankruptcy

One of the long-standing rules of bankruptcy law is that the automatic stay prevents creditors from taking steps to enforce the debts owed to them. In other words, they must do nothing once the debtor files for bankruptcy. However, doing nothing can also get a creditor in trouble in Tennessee if they have already begun a collection action before the bankruptcy was filed and they take no steps to halt the collection action.

Filing for bankruptcy under Chapter 7

Many consumers in Tennessee and throughout the country find themselves overwhelmed by their mounting financial obligations. Whether it is due to credit card usage, predatory payday or auto title loans, medical bills, or an unexpected job loss, some people may wonder what forms of debt relief might be available.

What a trustee does in a Chapter 13 case

When a debtor chooses to file for bankruptcy, a trustee is assigned to oversee the case. This is because the debtor's property is put into a bankruptcy estate, which is a separate entity from the person who is filing for bankruptcy. This is generally true whether a person is filing for bankruptcy in Tennessee or any other state, and it is also true whether an individual is pursuing a Chapter 7 or 13 proceeding.

Refinancing a home loan during or after bankruptcy

Homeowners in Tennessee might be allowed to refinance their mortgages after emerging from Chapter 7 or 13 bankruptcy. This assumes that those who file for Chapter 7 bankruptcy are allowed to keep their home during the liquidation process. The type of bankruptcy that a person files for as well as the type of loan a person has could determine when it could be possible to refinance an existing mortgage.

When the bills for recent holiday shopping endeavors come due

Dealing with significant levels of credit card debt can be a stressful and intimidating process under any circumstance. Unfortunately, there are a variety of scenarios in which it can be all too easy to rack up high balances on your accounts, and the severity of the situation might not hit home until the first bill arrives.