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Is Chapter 13 bankruptcy the best option for you?

A Tennessee resident who wants to be rid of personal debt for a fresh financial start may want to consider filing a Chapter 13 bankruptcy case. The lawyers at Kenneth C. Rannick P.C. completely understand the financial turmoil that people often experience due to mounting and uncontrollable debts. Our attorneys have gained years of expertise helping individuals file Chapter 13 bankruptcy. We use the best bankruptcy practices to help our clients try and get back on their financial feet quickly.

To find the best solution to each case's problems, our attorneys first ensure that each client has a sufficient understanding of the bankruptcy process. We thoroughly guide our clients through their available options and try to overcome the common belief that filing bankruptcy is "immoral" and "wrong." This attitude represents a glaring misconception among those who are unfamiliar with the process. Due to this misconception, however, some residents rule out this solution before understanding what bankruptcy is all about. However, what is important to know is that bankruptcy is a government-sponsored program that is designed to help people overcome financial challenges.

The word "bankruptcy" may sound ominous, but it simply is an efficient way to reorganize debt into manageable payments. Kenneth C. Rannick, P.C., firmly believes that it is vital for clients to understand every factor related to a Chapter 13 bankruptcy filing before they even pay our office a visit.

First, our clients should take a means test to confirm that they quality for a Chapter 13 filing. The test will separate those that qualify for Chapter 7 qualifiers from those that qualify for Chapter 13. The repayment plan provided by a Chapter 13 filing helps debtors repay creditors either in full or in part through small, manageable payments made over a fixed period of time. Sometimes Chapter 13 is the most viable option for debtors, because it can help manage sensitive debts, such as taxes, consigned debt and child support arrears, although these types of debts are typically non-dischargeable in bankruptcy proceedings.

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Kenneth C. Rannick, P.C.
4416 Brainerd Road
Chattanooga, TN 37411

Phone: 423-624-4002
Toll Free: 800-257-7594
Fax: 423-624-0509
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