Bankruptcy Lawyers Nashville, TN

Long, Burnett, and Johnson, PLLC

 

If you feel like you've run out of options to improve your financial situation, bankruptcy might be the answer for you. Bankruptcy is often thought of in a very negative light, but there are many situations where it can improve your situation, turning your life around and giving you a fresh start.

Of course, bankruptcy is not a course of action to take lightly, so it's important to talk to an expert bankruptcy attorney in Nashville, TN. Visit us at Long, Burnett, and Johnson, PLLC, for help determining whether this course of action is the right choice for your financial situation. Get started with a free consultation by contacting us through our website form or by dialing (615) 386-0075.

 

When Bankruptcy Is the Right Fit

It's time to consider bankruptcy if your life has been taken over by looming foreclosure, constant badgering phone calls from creditors, lawsuits or garnishments of your wages or property. Or maybe your debt has you trapped due to the amount of each payment and the extent of the debt. There are many kinds of debt that can get you into these situations, including medical bills, credit card balances, falling behind on your mortgage, payday loans, loans and back taxes owed to the government and even car repossessions.

Once you find yourself in this kind of situation, you can lose control over your life. You are harassed and/or your money or property is taken from you, regardless of whether you can manage the loss along with your other financial obligations. Beyond the stress of going through this financial situation itself, the pressures and difficulties it causes can put additional stress on your work life and home life.

In many cases, bankruptcy is the answer to your financial burdens. It can help you stop the phone calls and other actions against you. It can take you out of a hopeless situation and get you on track again.

 

Answers to Common Concerns

Now, let's cover some concerns you might have, so that we can help you better understand whether it might provide a solution to your situation. Have the following questions crossed your mind?

 

What will happen to my credit rating?

Many people discount bankruptcy or delay filing because of worries on how it will affect their credit rating. But as some food for thought, there are many cases where not choosing bankruptcy causes a worse effect on your credit score in the long run than if you were to file. How is this possible? Your credit score can go down if you are continuously not paying your credit cards on time, you miss payments or you completely stop paying. Having a lot of debt compared to income and over utilizing the credit you have can also cause your score to plummet. Further, actions against you, such as garnishments, judgments and liens, can all cause your credit score to take a hit. It can be hard to say how long it could take you to get out of this situation and you might end up choosing bankruptcy at some point anyway, especially if your desperate financial situation continues on a downhill course. For those with poor credit, bankruptcy can be the quickest way to increase your score. While bankruptcy is a negative on your credit, it creates positive because the negative reporting by creditors stops and after your debt is wiped out, your total debt compared to your income is vastly improved.

While bankruptcy has a significant effect on your credit rating, it allows you to start over. You can stop the financial situation that is keeping you trapped, that you don't know when or how you will get out of, and that continues to cause your credit score to degrade. The sooner you file, the sooner you can start rebuilding your credit, so it's a way to start getting on track again right away.

 

Will I be able to afford bankruptcy?

You might be of the mind that this is just one more bill you won't be able to afford during this difficult financial time. However, with Chapter 13 bankruptcy in Nashville, TN, you can pay as low as $80 up front to file.

 

Will I lose my assets?

Bankruptcy is often used to PROTECT your assets. Without protection, your creditors could take you things. While in some type of bankruptcy your assets might be at risk, other types allow you to keep all assets. The answer to this depends on your situation, but it's possible for you to hold onto possession of your house and most or all of your assets. Our attorneys will help determine the best type of bankruptcy to allow you to keep your assets if you file.

There are two primary types of bankruptcy individuals can file for in Nashville, TN: chapter 7 bankruptcy and chapter 13 bankruptcy. With the first kind, your property or car might be sold, depending on their value, to pay part of your debt. Often in chapter 7, you can keep all of your assets. With chapter 13, you have a payment plan you follow for three to five years where you pay a portion of your debt over time, after which the rest of your debt is discharged. Often the portion of your debt you are required to pay is a very small percentage of your total debt. You are not required to give up your assets regardless of value in a Chapter 13. We can help you figure out which type is right for your particular situation and show you how each type would affect your assets.

 

How do I know for sure whether I should file or not?

To really know whether you should go through with the process, it's important to talk with the best bankruptcy lawyers in Nashville TN, those at Long, Burnett, and Johnson, PLLC.

 

What You Can Expect From Long, Burnett, and Johnson, PLLC

If you're looking for the best local bankruptcy lawyers to help you, the office of Long, Burnett, and Johnson, PLLC is the place to go. We can help you file by the Federal Bankruptcy Code. We won't push your case off to a paralegal; instead, our lawyers will give it the personal attention it deserves.

At our office, you will work with either Jon Long, Esq., Jennifer Johnson, Esq., L.G. (Buddy) Burnett, Esq. or Alise Housden, Esq. Jon is licensed with a Doctorate of Jurisprudence from the Nashville School of Law. He is Board Certified in consumer bankruptcy law by the American Board of Certification and specializes in bankruptcy and financial issues. Jennifer is licensed with a Doctorate of Jurisprudence from the Nashville School of Law and also focuses on consumer bankruptcy and financial issues. Buddy studied at the University of Memphis Cecil C. Humphreys School of Law. Alise holds a Doctorate of Jurisprudence from Charlotte School of Law.

We provide services to residents of Nashville and the surrounding areas of Tennessee, including Rutherford, Cheatham, Wilson, Dickson, Hickman, Montgomery, Robertson, Williamson, and Sumner.

 

Start With Your Free Consultation

If you're ready to learn whether bankruptcy would provide relief for your situation and how it would affect your credit rating and your assets, take us up on our offer of a free consultation to discover the answer for yourself at no obligation to you. Call today at (615) 386-0075 or contact us through our website form to take advantage of the free consultation available to you.