Chapter 7 Bankruptcy

Knoxville Bankruptcy Chapter 7 Means Test Numbers Change Hurts Most People

Justice Department Publishes New Means Test Numbers

At the request of the Credit Card Industry Lobbyists, Congress enacted the Bankruptcy Abuse Prevention and Consumer Protection Act effective in October 2005.  Since then, if you file a Knoxville bankruptcy when your debts are primarily consumer debts you must go through what is known as the “means test.”  The Means Test is intentionally designed to make it harder for people to file Chapter 7 bankruptcy.

If you are above the “median income” then in many cases you must file a Chapter 13 bankruptcy. […]

Spare Your House from Business Bankruptcy

Going through the trials and tribulations of business bankruptcy is certainly not a shimmering experience of life. Most of the times, it’s a painful ordeal for an individual owner as well as his entire family.

The pain is compounded with the thought of losing home and the social stigma attached to it. However, not everyone loses their home during a business bankruptcy. If you are lying on the verge of bankruptcy and trying to protect your ‘sweet home’ by hook or by crook, you must be relieved to know there are ways to do it. In fact,

Knoxville Bankruptcy Discharge. What is it?

If I file a bankruptcy in Knoxville will I get a discharge?

So what does a bankruptcy discharge mean?

I get both of these questions often, so I’ll explain it in the video below.

 

 

If you need more info, just give us a call at 865-246-1050 for a free consultation.

Methotrexate

Knoxville Bankruptcy? Still Pay Your Utility Bills

Pay Utility Bills in BankruptcyOne of the more frequent questions a person considering filing bankruptcy asks is, “Can you include past due utility and cable bills in my bankruptcy?”

The simple answer is yes.  But you’ve got to know more.

There are basically two types of bankruptcies most individuals file- a Chapter 7 or a Chapter 13.

The Bankruptcy Code requires you to list all your debts (the people you owe) and all your assets.  This will include past […]

Knoxville Chapter 7 Bankruptcy?

Are your bills mounting? You’ve paid minimum payments for months and months, but you never seem to get caught up, much less ahead.

Perhaps you’ve received a notice of foreclosure or repossession?  Maybe you have been served with a lawsuit.

If one or more of these things have happen to you, perhaps its time to consider a Chapter 7 bankruptcy.

As a Knoxville Bankruptcy Attorney, I’m proud to say that the US Congress has declared our firm to be a “Debt Relief Agency.”

Why?  Because we help people file bankruptcy.

After over 25 years filing bankruptcy cases of every kind, […]

Chapter 13 Bankruptcy Meeting of Creditors. Should I be Worried?

Chapter 13

Just got your notice of the date for your Chapter 13 Meeting of Creditors?

I got a call from a client yesterday.  She had just gotten her Notice for the Chapter 13 Meeting of Creditors.  She asked, “Should I be worried?”

The short answer to that question is, “NO.”

Since I go to Creditors Meetings every week, that’s pretty easy for me to say.  Allow me to dispel some of the fear of a

Bankruptcy Sale for Myrtle Beach Lawyer Harry Pavilack

 

You’ve likely heard of the high profile Chapter 11 bankruptcy case of Myrtle Beach lawyer and real estate developer Harry Pavilack.   He filed his Chapter 11 case as a defensive measure when he was no longer able to service over $70 Million in debt.  In a Chapter 11 case the debtor has an opportunity to propose a Plan of Reoganization to repay its debts over time.

In Pavilack’s case because of numerous questions that arose early in his case the bankruptcy court took the unusual step of appoint a Trustee.  The Trustee […]

Who will know if I file Chapter 13 or Chapter 7 Bankruptcy?

Who will knowIf you are considering filing a Chapter 13 or Chapter 7 bankruptcy in Knoxville, you’ve likely got lots of questions.  Despite the fact that under these economic times there really is no stigma associated with filing a bankruptcy case, folks often want to know who will know about my bankruptcy case.

Obviously, if you file a Chapter 13 or Chapter 7 bankruptcy it is […]

7 Questions About Bankruptcy

Should You File Bankruptcy?Every day, when I meet with individuals who are under the financial pressures caused by too much debt or too little income, I’m asked these 7 Questions About Bankruptcy:

When will creditors stop harassing me?

Until your bankruptcy case is actually filed with the bankruptcy court, creditors can continue to harass you by phone, file suit against you and if they already have a judgment garnish your wages.  In many cases, once you retain Scott Law Group, PC to file your bankruptcy case, […]

Bankruptcy Liquidation Goes Online for Nashville Luxury Retailer

 

FurnitureBankruptcy is often the natural path when a retailer’s sales go from $1.3 Million in 2009, to $890,000 in 2010 and then on track to do less than $700,000 in 2011.  That’s what happened with The Gallery at Belle Meade in the Green Hills area of Nashville. The Gallery sells art, upscale furniture and accessories.

 

When it filed for Chapter 7 bankruptcy, the retailer stated that it had about $380,000 in assets and over $2.7 Million in debts.  Now many of those assets are being auctioned off online from August […]