Tennessee Bankruptcy Legal Questions

With out knowing your unique situation it is not possible to say if you would qualify for bankruptcy.  If you have a continuous source of income, you likely would qualify at least for a Chapter 13 bankruptcy, but only a licensed local bankruptcy attorney can determine if you would be eligible to file for bankruptcy because there are many vary exceptions to the rule. You should consult a local bankruptcy attorney to determine if you qualify to file for bankruptcy.  Most bankruptcy attorneys offer a free initial consultations to determine if bankruptcy is appropriate. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

Part of the risk in filing a Chapter 7 bankruptcy is that some possessions maybe liqudated unless properly exempted. You should consult a local bankruptcy attorney because a local attorney can determine what exemptions are available.  Most bankruptcy attorneys offer a free initial consultations. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

You should contact the clerk of your local bankruptcy court to see if they have a "public counsel" or pro bono assistance program.  You can also check with your local bar associations to see if they have referrals for lower fee attorneys. That having been said, the following article on the dangers of using low cost bankruptcy attorneys might be of interest to you. Good luck! Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  ... Read More

There are a lot of missing facts in your post, most notably which bankruptcy chapter you filed, so you really need to have a bankruptcy attorney in your area review everything in your case in order to figure out what's going on. My guess is this:  Assuming this is a Chapter 7 case, the debt owed to you from your ex-husband was an asset that existed on the date you filed your case.  If you did not exempt that asset pursuant to whichever state's exemptions laws applied in your case, then it belongs to the Trustee.  The fact that the award of this money came from a family law court or divorce decree is irrelevant as to whether or not it is an asset. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  ... Read More

You should consult a local bankruptcy attorney because each state has unique laws and a local attorney can determine what debts are dischargeable and if you should file for bankruptcy protection.  Most bankruptcy attorneys offer a free initial consultations to determine if bankruptcy is appropriate. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

You should immediately contact a local creditor's rights attorney who handles litigation.  In bankruptcy, there is an automatic stay placed on all assets, including real estate contracts, once the petition is submitted. If there is an abuse of the bankruptcy protections, you can ask the court to lift the bankruptcy stay.  A seasoned creditor's rights attorney will be able to determine if there is an abuse of the bankruptcy petition. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

Absent several unique circumstances, you can receive a discharge on payday loans. You should consult a local bankruptcy attorney because each state has unique local rules and a local attorney can determine how best to proceed.  Most bankruptcy attorneys offer a free initial consultations to determine if bankruptcy is appropriate. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

I'm not sure what your question is, since you don't state one.  You also don't disclose what type of legal entity your "business" is.   If it is a corporation or partnership, you may want to read up on the pros and cons of filing a bankruptcy for a business If for yourself individually, you should consult with an experienced bankruptcy attorney in your area for more details. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  ... Read More

It's impossible to answer your question with the facts you have provided.  Which bankruptcy chapter did you file?  Was the inheritance listed as an asset on Schedule "B" of your petition?  Did you exempt the expected proceeds on Schedule "C"?  Is your bankruptcy case still open? Without at least the above information there's no way to tell whether your interest was "lost". Clearly the inheritance was an asset of your bankruptcy estate and should have been listed (even if for an unknown value) in your bankruptcy papers and, to the extent possible, exempted under applicable law.  The fact you don't have access to the inheritance yet is completely irrelevant.  If you filed a Chapter 7, and did not list and exempt the inheritance, then it belongs to your  Trustee.   However, if you listed it and the Trustee determined it was of in sufficient value to administer, then he/she may have closed your case and abandoned (given) the inheritance rights back to you once your case was closed. My suggestion is that you consult with a bankruptcy attorney in your area (assuming you don't already have one) so that you can provide the necessary information to obtain the answer you need. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  ... Read More

There is not a specific amount necessary to file.  You should, however, consider the costs associated with filing for bankruptcy versus the amount of money you would save in a bankruptcy case. You should consult a local bankruptcy attorney.  Most bankruptcy attorneys offer a free initial consultations to determine if bankruptcy is appropriate. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

There are too many different variables to answer that question as it currently is asked.  It depends on numerous factual issues.  Issues such as: the amount currently owed on the mortgage, what exemptions you have available, the amount of equity in the home, and the market value of your home.   You should consult a local bankruptcy attorney.  Most bankruptcy attorneys offer a free initial consultations to determine if bankruptcy is appropriate for each client. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

There are too many different variables to answer that question as it currently is asked.  It depends on numerous factual issues.  Issues such as: the amount currently owed on the mortgage, what other assets you own, and the market value of your home.   You should consult a local bankruptcy attorney.  Most bankruptcy attorneys offer a free initial consultations to determine if bankruptcy is appropriate for each client. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

There are too many different variables to answer that question as it currently is asked.  It depends on numerous factual issues.  Issues such as: the amount of equity in the home, if the bankruptcy is a joint filing, and the amount owed on the home are all factors to be considered.   You should consult a local bankruptcy attorney.  Most bankruptcy attorneys offer a free initial consultations to determine if bankruptcy is appropriate for each client. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

You need to list all of your assets on the bankruptcy petition.  There are state exemptions for personal property that are available to debtors in a Chapter 7 Bankruptcy.  These exemptions allow the debtor to keep certain property from liquidation. You should consult a local bankruptcy attorney.  Most bankruptcy attorneys offer a free initial consultations to determine the merits of your case. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

Due to the new changes to the bankruptcy laws in 2005, there is now a time limit in order to stop serial bankruptcy filers.  The new time frames vary depending on the chapter and/or the completion of a chapter 13 payment plan. Please see: http://thismatter.com/money/credit/bankruptcy/discharge.htm This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

You may convert the case to a Chapter 7 case.  However, there may be additional filing fees necessary for the conversion.  You should discuss this decision with your attorney before making converting, because there are some debts that you can include in a Chapter 13 payment plan that cannot be discharged by a Chapter 7 discharge, or there may be an impact on various assets which might be liquidated. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

Although, Tennessee has a more creditor-friendly set of exemptions than other states, it does have a sizable personal property exemption for each individual filing.  There are also other available exemptions, depending on the type of property you own, and the value of the property. The only real way to determine what property might be at stake in a bankruptcy filing is to consult with a local bankruptcy attorney.  Most bankruptcy attorneys offer a free initial consultations to determine if you qualify for bankruptcy, and to determine if bankruptcy is appropriate. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

Assuming the personal injury was not the result of driving while intoxicated or a willful act, then the debt is most likely dischargeable in any bankruptcy case, regardless of what state you file.  Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter:  @bklawr  ... Read More

What you owe your lawyer depends on your contract with him and the laws of whatever state you contracted his services in.  It has nothing to do with bankruptcy law.  If he is charging you on an hourly basis, then you will likely owe him or her money for the time they spent working on your behalf.  Without more information there is no way I can answer your question.  Have you tried asking your attorney if you will owe him/her any more money? Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter:  @bklawr  ... Read More

You have to file a motion to avoid the lien pursuant to section 522(f) of the bankruptcy code.  You can do this is the lien impairs an exemption to which you are entitled under applicable law.    Without knowing which state's exemptions laws apply in your case, the value of your assets, the amount of all the liens against the property in question, and the exemption you took on that property, I can't begin to tell you whether you can accomplish this or not.  You need to discuss the specifics of your case with a bankruptcy attorney in your area. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter:  @bklawr  ... Read More

I am not clear on what you mean by "add".  In any bankruptcy case you must list all your assets and all your debts.  An intentional failure to do so is grounds for denial (or revocation) of your discharge, and possible criminal sanctions. If you are current with mortgage payments on the date your Chapter 13 case is filed, your plan would presumably state that you will just continue making the ongoing payments on the mortgage. Hope this answers your question. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter:  @bklawr  ... Read More

You can file for bankruptcy protection, but are not required to file.  You should speak with a local bankruptcy attorney to determine if a joint filing is appropriate.  A joint filing will increase your available allotment of exemptions, but may not be appropriate depending on your particular situation.  Most bankruptcy attorneys offer free initial consultations, and you should discuss your particular situation at that time to determine who should file, when to file, and how to file.  This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

Whether or not you are eligible for any bankruptcy chapter can only be determined after a comprehensive consultation with a bankruptcy attorney in your area.  There are too many factors involved to make that determination in an online forum such as this. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter:  @bklawr  ... Read More