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 & Kingsport

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.

How to File Bankruptcy in Tennessee 

Depending on the bankruptcy chapter you file, the process could look a little different.

In a Chapter 7 bankruptcy, the bankruptcy trustee takes control of the debtor’s assets and uses them to pay off creditors (although most people who file have no qualifying assets to lose). The debtor must first take a bankruptcy means test to determine if they qualify for Chapter 7. Most people who file for Chapter 7 bankruptcy have their debt discharged within six months.

Filing for Chapter 13 bankruptcy is the first step in establishing a payment plan that lasts between three and five years. We will work with you to propose a payment plan to the bankruptcy court. You will pay back all or a portion of your debt to your creditors through the bankruptcy trustee. In a Chapter 13 bankruptcy, the debt discharge does not occur until the payment plan is completed.

In a Chapter 11 bankruptcy, businesses are protected from debt collection activities, while getting time to reorganize debt and restore the business to profitability. Some debt can be discharged in a Chapter 11, depending on the circumstances. The bankruptcy court must approve the debt reorganization plan.

The Chapter 12 bankruptcy process is very similar to the Chapter 13 process, except it is designed to aid a family farmer or fisherman who is burdened by debt.

If you are seeking effective debt relief, we are here for you. Contact us online or by telephone at (423) 690-7712 to arrange a consultation with a knowledgeable attorney. We offer remote consultations, affordable rates, and flexible payment plans. Our Chattanooga bankruptcy attorneys are committed to helping you achieve your debt relief goals.

Free Consultations Available Contact Our Offices

Whether you have questions or you’re ready to get started, our legal team is ready to help. Complete our form below or call us at (423) 690-7712.

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