File Bankruptcy in Nashville, Tennessee

Steps for Filing Bankruptcy in Nashville

Bankruptcy lawyer Robert L. Scruggs outlines the steps for filing bankruptcy in Tennessee and how the litigation process works.  He also helps clients with Nashville bankruptcy litigation.

Chapter 7 Bankruptcy Steps

To file for Chapter 7 bankruptcy in Nashville, the debtor must first file a petition, all schedules, and a statement of financial affairs with the bankruptcy court. In order for liquidation litigation to occur, a list of all creditors must be provided to the court with the claim amount and the type of claim, the debtor’s employment information along with their monthly income, a list of all owned property, and a list of monthly living expenses.

Once Chapter 7 bankruptcy is filed credits cannot attempt to collect on any debts through automatic stay to provide debtor’s with protection for their property and relieve them from the Tennessee bankruptcy litigation. A trustee is also implemented, taking control of the debtor’s property, and eventually use the sales of property to pay off the creditors’ claims.

After the bankruptcy petition is filed, between 20 and 40 days a 341 hearing will be held in which creditors will meet to convince the court that the debtor should not be allowed to have their debts discharged. Once the bankruptcy court decides what debts will be dropped and which will remain, the bankruptcy case is closed.  Let Robert Scruggs Nashville bankruptcy lawyer know if you need help with your personal bankruptcy.

Chapter 13 Bankruptcy Steps

To file for Chapter 13 bankruptcy in Nashville, Tennessee, a Chapter 13 lawyer will help the debtor put together a debt payment plan over three to five years. The Nashville insolvency litigation trustee will review the plan and then distribute it to creditors, who can object to the proposal. If the proposal is submitted the debtor can keep all of their property an assets and begin to make monthly payments using their income to the bankruptcy trustee. The trustee will then redistribute the payments among the creditors according to the plan drafter by the debtor and their financial reorganization attorney.

Chapter 11 Bankruptcy Steps

To file for Chapter 11 bankruptcy, the debtor will need the assistance of a Chapter 11 bankruptcy law firm to file a bankruptcy petition much like filing Chapter 7. To begin business restructuring, the debtor must attend credit counseling in order for the court to proceed with the bankruptcy litigation in Nashville. Once counseling is completed, a 341 hearing will take place with the creditors and debtor in attendance. After the completion of the 341 hearing, the court will decide upon which debts to discharge.

For more information on Nashville bankruptcy filing, contact Robert L. Scruggs Attorney at Law by calling (615) 866-5519, or completing our web form.