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Bankruptcy may not be something you want to handle alone

No matter what lead to the decision to file bankruptcy -- whether it was a job loss that left you unable to pay your bills, a serious illness that led to unmanageable medical expenses or for any other reason -- it is important to understand the general process of a bankruptcy case in Tennessee before filing.

First of all, when filing for bankruptcy it will be necessary to gather all the documents regarding your finances, so you attorney can get a better understanding of your financial situation and help you determine what steps to take. This includes bank account and credit card statements, pay stubs and tax returns.

In addition, prior to filing for bankruptcy, individuals will need to go through a credit counseling course. This necessary step can be done at home over the Internet.

After that, your bankruptcy case can be filed with the court, which will give you the protection of an automatic stay. This means that creditors can no longer contact you to try to collect on the debt and any repossession attempts will also cease.

Following that is the meeting of creditors. This meeting is usually brief and informal. It takes place with your bankruptcy trustee and creditors who choose to appear. It is often the only time the debtor will actually have to appear in court, and the debtor's attorneys can also attend to make sure their client's interests are represented and to deal with any problems that might arise.

Finally, depending on the type of bankruptcy you filed for, your debt will either be discharged if it was a Chapter 7 bankruptcy or the debtor will enter into a repayment plan if it was a Chapter 13 bankruptcy.

While the bankruptcy process may seem to be relatively simple, in actuality it can be quite complicated and in general should not be handled alone. An attorney can be a great resource in such situations. For example, the legal team at the law office of Kenneth C. Rannick, P.C., aim to dispel the myths surrounding the bankruptcy process so that their clients have a clear understanding of what to expect. Since 1988, they have helped thousands of clients file for bankruptcy. Their personal bankruptcy webpage can help educate individuals about the bankruptcy process in Tennessee.

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

Phone: 423-954-7180
Phone: 423-624-4002
Fax: 423-624-0509
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