Mt. Juliet Chapter 13 Bankruptcy Lawyer

Mt. Juliet Chapter 13 Bankruptcy Attorney

Financial hardship can impact every aspect of your life, from your home to your health to your peace of mind. Whether it comes from overwhelming medical expenses, snowballing credit card debt, business struggles, or a recent job loss, the weight can feel unbearable. If you’re navigating this difficult path, an experienced Mt. Juliet Chapter 13 bankruptcy lawyer can help you regain control.

What Is Chapter 13 Bankruptcy?

In the last year, 38% of all personal bankruptcy filings in the United States were Chapter 13 cases. It is designed for individuals who have a reliable income but need a structured way to manage their debt, which is why it is often called a “wage earner’s plan.”

Chapter 13 allows you to consolidate your debts and repay them through a court-approved plan over three to five years. One of its most powerful features is the automatic stay, which halts collections, foreclosures, and repossessions as soon as you file. Understanding how the automatic stay protects you from collection efforts is an important benefit for many clients.

Is Chapter 13 Bankruptcy Right For You?

You might benefit from Chapter 13 bankruptcy if:

• You want to keep valuable assets such as your home or car.
• You’re behind on payments for property that you would like to keep, but a creditor has placed a lien on it.
• Your current payment obligations are no longer affordable, but you want to avoid losing your property.
• You have fallen behind on child support payments.
• You owe back taxes that can’t be discharged, but would like a repayment plan to pay them off over time.
  For individuals unsure about whether bankruptcy is the right path, there are clear signs when bankruptcy might be the best solution.

Who Qualifies for Chapter 13?

To qualify for Chapter 13 bankruptcy, you will need:

• A consistent income source, whether it be from a salary, self-employment, rental properties, or retirement benefits
• Be within the debt limits, which are currently up to $1,580,125 in secured debt and $526,700 in unsecured debt
• To complete a credit counseling course from an approved agency within 180 days before filing
• Stay current on tax filings and avoid recent dismissed bankruptcy cases, which may otherwise affect your eligibility. Some common bankruptcy myths often confuse individuals who are exploring their options.
• To not have had a bankruptcy case dismissed within the last 180 days
• To be up to date on all required tax filings

How Does the Chapter 13 Bankruptcy Process Work?

The process begins with filing a petition with the U.S. Bankruptcy Court for the Middle District of Tennessee. This will trigger the automatic stay. You and your Mt. Juliet legal team will propose a repayment plan that details how you intend to pay your creditors, which is then reviewed by a court-appointed trustee and presented at a meeting.

Preparing your Chapter 13 repayment plan is a detailed process where having a solid payment plan strategy can improve your case’s success.

If the plan is approved, you will then make regular payments to the trustee, who then distributes the funds to the creditors according to the plan’s terms. Throughout this period, you will generally have to use your entire disposable income towards debt repayment, and then after the plan is complete, all remaining eligible debts are discharged.

Tailored Legal Support for Your Financial Journey

At Kerney Law Firm, we recognize that no two financial situations are alike. We take a personalized approach by carefully reviewing your income, debts, and goals to craft a strategy that fits your needs.

Our legal team can manage all court filings and documentation, represent you in hearings and creditor meetings, work with the Chapter 13 trustee on your behalf, and offer continuous guidance throughout your payment plan.

Serving Mt. Juliet and the Surrounding Communities

Taking the first step toward financial recovery can be frightening, but you do not need to go through it alone. Chapter 13 bankruptcy offers you a path to stability and a fresh start. Let Kerney Law Firm be your trusted legal team on that path. Contact us today to explore your bankruptcy relief options in Tennessee.

Mt. Juliet Chapter 13 Bankruptcy Resource Links:

• What You Should Know About Chapter 13
• Dischargeable Debts in Chapter 7 and Chapter 13 Bankruptcy
• Tips for Single Moms Who Need to File for Bankruptcy
• Filing for Bankruptcy Means a Fresh Start and New Outlook
• Can Bankruptcy Help If I Am Behind On My Mortgage?