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July 2017 Archives

Chapter 13 payments and confirmation

Tennesseans who are moving forward with a bankruptcy under Chapter 13 must understand when the payments must start and its connection to the confirmation hearing. Since Chapter 13 is a repayment plan rather than a liquidation and, depending on the situation, the payments are required to be made within three to five years, the timing of when the payments will commence is vital. So too is the confirmation hearing.

What are the fees and necessary information for a Chapter 7?

Tennesseans dealing with financial challenges who have decided that filing for Chapter 7 bankruptcy is the best method to get back on stronger financial ground must understand certain facts about a case. There are filing fees, administrative fees and certain information must be provided to the court to proceed. These are clerical issues that should not be a major sticking point to a Chapter 7 bankruptcy, but are still imperative to successfully complete the case.

Bankruptcy is a time-tested way for successful debt relief

There are many ways Tennesseans can find themselves facing financial challenges. Job loss, medical debt, personal issues, financial mistakes - all are reasonable explanations for having problems with finances. Often, there is a perception that there is no way out and a fresh start is unavailable. The word "bankruptcy" makes people nervous and guilty, thinking that they are shirking their responsibilities if they even consider it. The truth is that filing for bankruptcy is a perfectly legal and reasonable way to get back on stronger financial ground and move forward with one's life.

What is a Chapter 13 hardship discharge?

Tennesseans who are experiencing financial challenges and have chosen to move forward with a Chapter 13 bankruptcy will undoubtedly understand the basics of the program once they choose it over other alternatives. With a Chapter 13, a plan will be created so the debtor can repay all or some of the debts in a designated time-period of three to five years. For those who have a regular income, this is a sound method to getting a fresh financial start without having to go through a possible liquidation with a Chapter 7.

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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