Chapter 13 Bankruptcy|Turner Law Offices, P.C.
Filing for Chapter 13 Bankruptcy in Nashville is extremely easy with the right bankruptcy lawyer. Turner Law Offices, P.C. has over 20 years experience helping people in the middle Tennessee area file for protection under the Federal Bankruptcy Code. If you are drowning in debt and looking for a lifeline, our debt relief attorneys can help you immediately. Chapter 13 Bankruptcy allows you to keep all of your property, and reduce your debts to a reasonable amount that you can afford.
The United States Bankruptcy Court for the Middle District of Tennessee is located in Nashville, Tennessee. There is also a division of the Bankruptcy Court in Columbia, Tennessee. The process is relatively easily after the Bankruptcy Petition is filed. Your bankruptcy attorney will spend hours preparing your Bankruptcy Petition (approximately 60 pages), and will electronically file it with the Court.
Chapter 13 Bankruptcy is known as “reorganization.” Chapter 13 Bankruptcy is available for people who cannot qualify to file Chapter 7 Bankruptcy or those who have the ability to repay their debts, but need relief from the collections costs, increased interest rates, and attorney fees. Chapter 13 Bankruptcy reorganizes your debts by creating a payment plan that you can afford based on your income and standard living expenses.
Under Chapter 13 Bankruptcy, you get immediate relief form oppressive creditors upon the filing of your Petition for Bankruptcy. Additionally, you may be able to significantly reduce your monthly payments owed to creditors, and put all missed payments into the plan, giving you time to get caught up on late payments with mortgages, car payments or other loans.
Individuals usually file Chapter 7 Bankruptcy if they can; however, some people need Bankruptcy Relief but they cannot file Chapter 7 Bankruptcy. Reasons to choose Chapter 13 Bankruptcy are the following:
Another main reason our clients are advised to file Chapter 13 Bankruptcy is to fight repossession by “cramming down” debts through a Chapter 13 Plan. If you have missed payments and the creditor is threatening to foreclose on real estate or repossess your car or other asset, Chapter 13 Bankruptcy can “cram down” the loan, often reducing the loan to the current value of the property and lowering the interest rate. Though your Chapter 13 Plan, you keep the property and pay a lower monthly payment with less interest.
Whatever your situation, the bankruptcy attorneys at Turner Law Offices, P.C. will help you make an informed decision about which type bankruptcy is best for you given your personal financial situation. At the end of your first appointment, you generally know what your monthly payments will be under a Chapter 13 plan and exactly which assets you can keep. Chapter 13 Bankruptcy features low upfront costs and attorneys fees are payable over the length of your repayment plan. Request a Free Initial Consultation Online or call or office to schedule your in-person meeting with one of our bankruptcy law professionals.
