Goodlettsville Bankruptcy Exemptions Lawyer

Bankruptcy Exemptions Attorney in Goodlettsville, TN

Bankruptcy is misunderstood by many people, who believe that filing results in the liquidation of all their property. Many key pieces of property are often excluded from the process. If you are currently struggling with debt, a Goodlettsville bankruptcy exemptions lawyer can help you navigate the often-confusing world of bankruptcy law.

About Us

Kerney Law Firm has spent decades assisting the people of Goodlettsville, Gallatin, and throughout Tennessee with their bankruptcy exemption cases. As a trusted Goodlettsville Bankruptcy Lawyer, our founder, Christopher Kerney, graduated with honors from the University of Kentucky College of Law. He has over 20 years of legal experience, primarily focused on bankruptcy and debt-related matters.

Overview of Tennessee Bankruptcy

Bankruptcy is a common legal process that people across the country utilize when facing heavy debt. In 2024, 504,112 bankruptcies were filed throughout the United States. The vast majority of these were personal non-business cases, accounting for 481,350, or roughly 95% of all filings. The Middle District of Tennessee, which covers both Davidson and Sumner Counties, processed over four thousand bankruptcies in 2025 as of October. Consulting with a Goodlettsville Debt Consolidation Lawyer can help you explore alternatives to bankruptcy and determine the best path toward financial stability.

All bankruptcy cases in Goodlettsville are handled through the Bankruptcy Court for the Middle District of Tennessee, located at 719 Church Street, Nashville, TN 37203.

Common Bankruptcy Exemptions in Tennessee.

Tennessee state law allows for exemptions for certain necessary assets. These break down into exemptions limited to specific dollar amounts and property that is fully protected.

Limited Exemptions

Tennessee law allows some portion of assets to be excluded from bankruptcy proceedings, with a maximum limit. Some examples include:

• Homestead exemption. Your primary residence can be exempt up to $35,000 if you are the sole owner, or up to $52,000 if it is jointly owned.
• Tools of the trade. Belongings that are necessary to your profession are deemed tools of the trade, and can be left out of bankruptcy proceedings for up to $1,900 in value.
• Personal property. Tennessee Code Ann. 26-3-103 allows for up to $10,000 of personal property to avoid liquidation. This can be anything you want, with many people using it to protect their motor vehicle.
• Wages. The maximum amount a creditor can garnish from your earnings is 25% of your disposable income.

No-Limit Exemptions

Certain types of property or assets are completely excluded from the bankruptcy process. Exemptions with 100% exclusion include:

• Public benefits. Social security, unemployment payments, Families First benefits, and any other state-provided aid are fully exempt from all bankruptcy proceedings.
• Retirement accounts. Retirement and pension funds are protected.
• Child or spousal support. Alimony and child support are protected during bankruptcies. This affects both those who receive and provide these payments.

Chapter 7 vs Chapter 13 Exemptions

The way bankruptcy exemptions affect your case depends on whether you file under Chapter 7 or Chapter 13. Chapter 7 bankruptcies involve no repayments, so anything non-exempt is subject to sale. If your property is worth more than the applicable limit, your trustee may sell it and let you keep funds equal to the maximum exempt amount. If your car is worth $15,000, and you use your full personal property exemption on it, your trustee may sell it and give you $10,000.

If you have property worth more than the limits, Chapter 13 may allow you to retain ownership. Chapter 13 involves paying back your debts rather than having them completely forgiven. This can result in non-exempt property changing your payment plan rather than complete liquidation. Speaking with a Goodlettsville Debt Negotiation Lawyer can help you understand how exemptions may impact your repayment plan and minimize what you may pay.

Hire a Goodlettsville Bankruptcy Exemptions Lawyer

Bankruptcy of any type can be a frightening and confusing legal case to handle on your own. Hire a bankruptcy exemptions lawyer to assist you through this difficult period. Your Goodlettsville bankruptcy exemptions attorney can help you decide which plan matches your needs. They can guide you in optimizing your use of exemptions to retain what you want most.

FAQs

How Much Does a Bankruptcy Exemptions Attorney Cost in Tennessee?

How much your Tennessee bankruptcy exemptions attorney costs depends on the complexity of your case, the work hours it requires, and the type of bankruptcy you need assistance with. A Chapter 7 filing with straightforward elements tends to be cheaper than a Chapter 13 case with a longer duration and additional factors to consider. Kerney Law Firm offers consultations, during which we can provide a rough estimate of your final bill.

What Does an Exemption Mean in Tennessee Bankruptcy?

In Tennessee bankruptcy cases, an exemption refers to assets that are protected by state law that cannot be taken or sold during the proceedings. Exemptions are typically established through monetary maximums, such as the $35,000 limit for residents. A few items are 100% immune to bankruptcy proceedings. One common example is qualifying retirement and pension plans.

How Long Do Bankruptcy Cases Take in Tennessee?

How long your Tennessee bankruptcy case takes primarily is based on the type of bankruptcy you are filing for. Chapter 7 is a quicker option with no required payment plan. Chapter 13 bankruptcies take much longer, with repayment models lasting years. Your attorney can provide a general timeline for how long your case may take.

What Assets Are Fully Exempt From Bankruptcy in Tennessee?

Various assets are fully protected from bankruptcy in Tennessee with no limit. The first type is any public aid. Social security payments, unemployment benefits, Families First initiatives, and other state-run programs cannot be affected by bankruptcy. Retirement accounts and pension plans are also immune from the proceedings. Kerney Law Firm can help you determine which assets are fully exempt and which are protected under state law.

Speak With a Goodlettsville Bankruptcy Exemptions Attorney Today

Kerney Law Firm has helped hundreds of fellow Tennesseans with their bankruptcy cases and established what is exempt. We have the legal knowledge, skills, and experience that can make a positive impact on your case.

Contact us for a consultation to discuss your financial situation and explore potential pathways forward. You may also visit our Gallatin office, located on South Water Avenue, between Gallatin City Cemetery and Thompson Park.

Goodlettsville Bankruptcy Exemptions Resources

• Understanding exemptions for bankruptcy in Tennessee