Are you living with a difficult financial situation? Whether you are plagued by harassing phone calls from creditors or are unable to make your car payment, there is a way out of this problem. At Fox Law, we provide high-quality client services to people living with seemingly insurmountable debt. Through Chapter 7 bankruptcy, we can help you move from a rough financial situation into a new beginning.
From a Rough Financial Situation to a New Beginning. Call Today.
If you would like to learn your options for obtaining debt relief, call to speak with experienced Bankruptcy Attorney Eric Fox in a free initial consultation. Call us today at (615) 264-5695 for a free consultation via phone, in-office, or video conference. We are here to help you.
Do I Qualify for Chapter 7 Bankruptcy?
Bankruptcy laws require that you qualify for Chapter 7 bankruptcy under an income means test. If you are below Tennessee’s median state income, you can qualify for Chapter 7. Essentially, if you have “too much” projected disposable income, Chapter 13 bankruptcy becomes your next option.
We can answer your questions about qualifying. The median state income figures in 2013 for Tennessee are as follows:
1 person: $39,891
2 people: $48,617
3 people: $55,080
4 people: $65,038
If your income is greater than the above figures for your household size, do not worry. The court also considers, and deducts, certain allowable expenses so an above-median individual or family can get Chapter 7 relief.
Eric Fox has filed hundreds of bankruptcy cases, many of which for above-median debtors since the Bankruptcy Reform Act of 2005. Most of these cases have qualified for a Chapter 7 discharge after a thorough analysis of the individual facts. We have to look at both income and expenses. We will do this analysis for you as part of our free initial consultation.
How Does It Work?
Fox Law is a family-owned business. We pride ourselves on the personal relationships we build with our clients. If you are struggling with debt, we can help — and we will be with you throughout the entire process.
Chapter 7 is liquidation bankruptcy. Some of your property can be sold to pay your creditors. The law allows you to keep exempt property, and, in many cases, you will not lose any of your property. When your debt is discharged, you are debt-free and can begin living your life after bankruptcy.
If you want to keep property — such as your home or your car — but are behind on your payments, Chapter 13 is probably the most advisable option for you.
Contact a Lawyer About Exempt Property and Discharging Debt in Tennessee
Call us today at (615) 264-5695 for a free consultation via phone, in-office, or video conference with experienced Bankruptcy Attorney Eric Fox and learn if Chapter 7 bankruptcy is right for you.
We are located in Hendersonville, Tennessee and have been assisting residents all over Middle Tennessee for 18 years. Our office hours are Monday through Thursday from 8:00 a.m. to 3:30 p.m., Fridays 8:00 a.m. to 3:30 p.m., with evening and weekend appointments available upon request.
We are here to help you.