Bankruptcy Lawyers in Chattanooga

If you are facing creditor harassment, foreclosure, garnishment, and other consequences of excessive debt, it may seem like your creditors hold all the cards. Remember, however, that you have a powerful legal tool at your disposal that can stop your creditors while helping you achieve debt relief — bankruptcy.

At Tom Bible Law, our lawyers have extensive experience helping clients file for bankruptcy. We will work with you personally to help you explore your debt relief options. If you decide bankruptcy is right for you, we will guide you through all the necessary legal steps.

Bankruptcy Solutions for People & Businesses in Tullahoma

We represent individuals, families, and businesses in a wide range of bankruptcy matters.

• Chapter 7 bankruptcy offers total debt relief within six months for most people who qualify. It is a good option for people facing excessive credit card debt, medical debt, and other types of unsecured debt.
• Chapter 13 bankruptcy reorganizes debt into a manageable payment plan to be paid monthly over three to five years. Chapter 13 is a good option for people who earn a steady income but have fallen behind on mortgage payments and other secured loans.
• Chapter 11 bankruptcy is bankruptcy for businesses. Chapter 11 is the financial reorganization of a business, which allows the business to stay open.
• Chapter 12 bankruptcy is for family farmers or family fishermen. Chapter 12 is similar to Chapter 13 in that it allows debtors to pay a portion of their debt over a period of time.

Bankruptcy Stops Creditors

Bankruptcy, in any form, stops creditors from harassing you. Filing for bankruptcy enacts a legal injunction known as the “automatic stay.” The automatic stay stops creditors from foreclosing on your property, repossessing your car, garnishing your wages, and taking other legal actions against you. It even prevents them from calling or writing you to collect the debt. Our attorneys can help you pursue your debt relief goals while stopping your creditors from acting against you.

What Is The Process for Filing for Bankruptcy in Chattanooga

The process for filing for bankruptcy in Chattanooga, Tennessee is generally similar to the process in other jurisdictions. Here is a general outline of the steps involved: 

• Gather Important Documents: Collect copies of important financial documents, such as utility bills, credit card statements, bank statements, tax returns, and payroll records.
• Determine Eligibility: Assess your eligibility for bankruptcy by considering factors such as your income, debts, and financial situation. Consult with a bankruptcy attorney for personalized advice.
• Choose the Appropriate Bankruptcy Chapter: Work with an attorney to determine whether Chapter 7 or Chapter 13 bankruptcy is the right option for you based on your circumstances.
• Complete Required Forms: Fill out the necessary bankruptcy forms, including a petition, schedules, and other relevant documents detailing your financial situation. You may need to provide information about your assets, debts, income, expenses, and more.
• File the Bankruptcy Petition: Submit your completed bankruptcy forms to the bankruptcy court serving Chattanooga. You can file the documents by mail or in person. Electronic filing may only be available to attorneys.
• Pay Filing Fees or Request a Fee Waiver: Pay the required filing fee when submitting your bankruptcy petition. If you cannot afford the fee, you may apply for a fee waiver with the court.
• Attend the Meeting of Creditors: After filing, you will be required to attend a meeting of creditors, also known as a 341 meeting. This meeting allows the bankruptcy trustee and creditors to ask questions about your financial situation.
• Complete Financial Management Course: Before receiving a bankruptcy discharge, you must complete a financial management course from an approved provider. This course helps educate individuals about personal finance and money management.
• Follow Court Orders and Requirements: Adhere to any court orders, requirements, or repayment plans associated with your bankruptcy case. Cooperate with the bankruptcy trustee throughout the process.

It's crucial to consult with a bankruptcy attorney in Chattanooga to understand the specific requirements, procedures, and local rules that apply to your bankruptcy case.