Can I borrow my way out of debt? Should I file bankruptcy?

By Cynthia Podis

Nashville Bankruptcy Lawyer

Do you find your self out of money at the end of every month and still have bills you cannot pay?  A Chapter 7 Bankruptcy can help wipe out credit cards, medical bills and pay day loans.  A Chapter 13 Bankruptcy works as a legal debt consolidation giving you a repayment plan of up to 60 months, paying 0 to 100% on your debt.  Your creditors cannot sue you while they are being paid in  the bankruptcy.  Chapter 13 takes into consideration your income, household size and regular monthly expenses to determine your repayment amounts.

Generally, you pay a small payment up front and the attorney fee is financed through the Chapter 13 plan.  Chapter 13 helps you take control of your budget.  You can keep your house, car and other assets in Chapter 13.  The Automatic Stay of the Bankruptcy Code protects you while you repay your creditors.

Chapter 7 Bankruptcy allows you to erase debts and keep some assets (up to $10,000 in personal property).  The amount of exemption is determined by state law in most cases and by Federal Code in others.  A knowledgeable attorney will always ask how long you have lived in the state to determine the protection available to you.  You can keep a car or house if they are not worth a lot more than is owed on them.

While Bankruptcy rules and laws are complex, we make it easy to file! At Podis and Podis, we pull your credit report, tax transcripts, and prepare the paperwork to be filed with the court. We walk you through all of the questions to expect from the Trustee.  We work on your behalf to negotiate reaffirmation agreements, void liens and redeem items that are subject to secured loans.  We file dischargeability complaints to determine if debts are eligible to be wiped out in bankruptcy.  We have over 50 years of combined legal experience we use to help our clients.  We do not just file your case!  We follow up with the work necessary to get you the maximum relief available under the Bankruptcy Code.

For More information, call us and set an appointment to see how bankruptcy can help you!

Podis and Podis 

615-399-3800

1161 Murfreesboro Pike Suite 300

Nashville TN 37217

We are a debt relief agency.  We help people file for Bankruptcy Under the Bankruptcy Code.-

Disclaimer: This article is not legal advice.  To obtain legal advice, please call and set an appointment to speak with us.