Experienced Nashville Bankruptcy Attorneys Guide Clients Safely Through the Bankruptcy Maze

Filing bankruptcy is an opportunity to start a new life

Too many Americans remain in a monthly war against their crippling debts for years before taking legal action to get out of their financial abyss. The attorneys at the The Nevin Law Firm strongly encourage consumers in debt to speak with one of their experienced bankruptcy attorney before debts get out of control. The pressure of being in debt has many more costs than just the financial aspects. People often experience significant health problems and marriages can be torn apart by the stresses of being in debt.  Speaking with an attorney about filing for bankruptcy is the first step in getting your life back together.

What do you need to do to begin the process of filing bankruptcy?

The first step in considering whether even to file for bankruptcy is to take an inventory of all of your past and present debts. We need to know not only how much debt you have, but also what types of debts you have in order to advise you on your best course of action. You will also need all of this information for the filing of your initial petition for bankruptcy. The petitions filed with bankruptcy courts are required to have a complete list of all of your assets and liabilities as well as a statement of your financial affairs. We appropriately compile these petitions and prepare the necessary documents to initiate  the process of filing for bankruptcy.

Dischargeable debts for Chapter 7 bankruptcy

The bankruptcy process allows consumers to discharge debts that they would not otherwise be able to ever pay off. However, not all types of debts can be discharged through bankruptcy. For example, domestic support obligations, criminal restitutions and fees, intentional personal or property damage, most student loans, and most IRS debt are not eligible for discharge. Additionally, both secured debts and unsecured debts are eligible for discharge. Secured debts are those that have collateral attached to them, and in order to discharge this debt one must typically surrender the collateral; however, in some cases, bankruptcy allows the debt to be discharged, but you can still keep the property. Speaking with a Nashville bankruptcy attorney can help you evaluate your debts and decide which debts are dischargeable. The types of debts that are most commonly included in chapter 7 bankruptcyproceedings include:

  • Personal loans
  • Credit card debt
  • Medical debt
  • Lines of credit and overdraft fees
  • IRS debt, if the debt qualifies
  • Payday and finance company loans
  • Bank and credit union loans
  • Utility bills
  • Mortgages, if it qualifies

 

Schedule a free initial consultation with an attorney experienced in

helping people through bankruptcy filings

The attorneys at The Nevin Law Firm have been helping the people of Nashville through bankruptcy proceedings for more than 40 years. When you come into our office for a free initial consultation, we discuss the entire process with you and all of your options to get out of debt. Contact us online or call us at 1-615-244-7708 to schedule an appointment today.