Gallatin Bankruptcy Attorney

Bankruptcy Lawyer in Gallatin, TN

Consumer Bankruptcy For A Fresh Start

People in Tennessee like to work. It feels good to support your family. But sometimes, through no fault of your own, you lose your job or your hours are cut, causing you to fall behind on paying your bills until it seems impossible to catch up.

Turn to Christopher Kerney, a bankruptcy attorney with more than 20 years of experience serving clients in Gallatin, Portland and throughout the surrounding cities. He has the empathy and skill to help you resolve even the most complex debt concerns. Call 615-206-9900 for a free consultation today.

Why File For Bankruptcy?

There are millions of people in the world but there are a few common reasons why people decide to file for bankruptcy:

• Keep a home / prevent foreclosure
• Stop creditor harassment
• End credit card debt
• Protect a car from repossession
• Save a marriage

Most people file for bankruptcy when some sort of action triggers the need for it. Perhaps a home is going into a foreclosure sale. Perhaps wages are being garnished. Or maybe threatening collector phone calls are being received. When the situation becomes unbearable, or something is about to be lost, people look at bankruptcy as a way to solve their problems and start over.

Who Files For Bankruptcy?

Occasionally parents are forced into bankruptcy when they co-sign on a loan for an adult child who then defaults on the loan. Bankruptcy can be a good option when someone without health insurance has an accident, surgery or illness causing major medical debt. We have seen people as young as 20 and as old as 80 file for bankruptcy. It is a bankruptcy myth that only people who spend too much file for bankruptcy. Bad things can happen to good people, and when they do, our law firm can help you start over.

How Do I Choose Between Chapter 7 Or 13?

Chapter 7 bankruptcy, or straight bankruptcy is the best choice for many people. Chapter 13 bankruptcy is a good choice for people who want to protect assets that cannot be protected in Chapter 7. When you talk to an attorney, we will apply the means test and help decide which is the best course of action for you and your family. We will also tell you about credit counseling, which you will be required to participate in.

FAQs About Bankruptcy in Gallatin, TN

Deciding if filing for bankruptcy is the right decision for you and your family is not always an easy task. At Kerney Law Firm in Gallatin, Tennessee, we know that you have many questions, and we have answers.

To help give you a starting point in thinking about bankruptcy, below are some frequently asked questions about bankruptcy and our answers based on decades of experience. You are also welcome to call us directly at Call to schedule a free initial consultation and get the answers you need.

What is the Difference Between Chapter 7 and Chapter 13 Bankruptcy?

The person filing bankruptcy is known as the “Debtor”. Chapter 7 Bankruptcy discharges debts other than debts the Debtor chooses to keep paying and those debts that Chapter 7 cannot discharge. Debts that Chapter 7 cannot discharge include child support and most tax debts. Debts that a Debtor might choose to keep paying include debts owed on a home or car.

The Debtor is allowed to keep some (and often all) of his property in Chapter 7. However, if he owns property that is worth significantly more than what is owed on it, such property may be sold to pay creditors; but, see Chapter 13 below.

In Chapter 13 Bankruptcy, the Debtor pays the portion of his income that exceeds basic living expenses to the Chapter 13 Bankruptcy Trustee. The Trustee disburses the funds to creditors according to a plan approved by the Bankruptcy Court. When all payments to the Trustee have been made, the Debtor’s debts are discharged other than debts that Chapter 13 cannot discharge. The most common debt that Chapter 13 cannot discharge is future child support.

A typical Chapter 13 Bankruptcy must last a minimum of 3 years and may not exceed 5 years. A typical Chapter 7 Bankruptcy lasts about 4 months.

Should I File Chapter 7 Bankruptcy Or Chapter 13 Bankruptcy?

A Chapter 7 Bankruptcy usually discharges all of the debts that the person filing bankruptcy (“Debtor”) wants to discharge. Also, the Debtor usually gets to keep all of the property that he wants to keep. A Chapter 7 is usually over in about 4 months. As a result, Chapter 7 is often preferred over Chapter 13.

In general, Chapter 13 Bankruptcy is appropriate in any of the following situations:

1. Debtor owns property that is worth significantly more than what is owed on it and wants to keep the property;
2. Debtor has missed payments on his house and wants to keep the house. Missed payments are repaid over time. Chapter 13 cannot lower a home mortgage monthly payment; but, it can almost always lower car payments and other debt payments to free up money to pay a home mortgage monthly payment;
3. Debtor is behind on his car and wants to keep the car. Debts on cars are renegotiated and paid off over time;
4. Debtor owes money on something that he wants to keep, but the payments are too high to afford. The loan can, in many cases, be renegotiated so that the payments are lower;
5. Debtor is having problems with missed payments on child support. The missed payments are repaid over time;
6. Debtor is having problems with back taxes. Back taxes are repaid over time. Penalties stop and if no tax lien has been filed the interest stops too.

Will Bankruptcy Stop Repossessions, Civil Lawsuits, Wage Garnishments, Foreclosures; And, Stop My Creditors From Calling Me On The Telephone?

Bankruptcy stops repossessions, civil lawsuits and foreclosures. As a general rule, bankruptcy stops wage garnishments and creditors must stop calling on the telephone. The types of creditors that may continue to garnish or call on the telephone usually don’t.

Will I Be Able To Get A Loan After Filing Bankruptcy?

Lenders have been known to make loans to persons who have recently filed bankruptcy. However, they are usually not home loans and usually not at a good interest rate.

It may be impossible to get a good loan after filing bankruptcy. On the other hand, it may be impossible to get a good loan now with a record of late payments and loan defaults. One thing is for certain: in general, the ability to get a good loan after bankruptcy will improve over time as long as a person has a steady source of income and has paid his bills on time since the bankruptcy was filed.

Chapter 7 And Chapter 13 Bankruptcy Information

In reviewing the following information, please keep in mind that there are various factors that can apply to each individual’s situation. The best way to find out what our lawyer recommends specifically for you is to come in and meet with us. We do not charge for your first consultation and we will not pressure you into a decision. Our goal is to give you all of the information you need to decide how to proceed most effectively for you and your family.

• How Does Bankruptcy Affect Your Credit?
• Can One Spouse File For Bankruptcy?
• Do I Need A Bankruptcy Attorney in Gallatin, TN?
• Consequences of Not Filing for Bankruptcy in Tennessee
• How to Prepare for the 341 Meeting of Creditors?
• What to Bring to a Bankruptcy Consultation?

If you have similar questions or other concerns about filing Chapter 7 or Chapter 13 bankruptcy, we welcome you to contact our law firm.

Contact Our Gallatin Bankruptcy Attorney Today

Stop tossing and turning due to money worries. Our law firm helps individuals and families in Gallatin, Portland, Hendersonville, Lebanon and the surrounding area. Let us evaluate your financial situation and help you identify your options. Your first consultation with a lawyer is free with no obligation. Call or contact us online today. Call 615-206-9900

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Call 615-206-9900 To Arrange A Free Consultation

Stop tossing and turning due to financial worries. Let our experienced team answer your bankruptcy FAQs and help you identify your options. We help individuals and families in Gallatin, Portland, Hendersonville, Lebanon and the surrounding area. Call Christopher Kerney, Attorney at Law at Call or contact us online today.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.