Tennessee Chapter 13 Bankruptcy Information
Chapter 13 bankruptcy, boiled down, is a way for people with serious debt problems and a regular income to repay their debts according to their abilities. We are the Nashville law firm of David F. Cannon. Over the last 20 years, attorney David F. Cannon has helped thousands of people get debt relief. The information below is intended to serve as a summary of how Chapter 13 bankruptcy works.
The Chapter 13 Process
Chapter 13 bankruptcy is initiated by filing a petition for bankruptcy, which will include:
- A statement, or schedule, of your assets and liabilities
- Your current income and expenditures
- Any contracts and unexpired leases
- A statement of your financial affairs
Perhaps the most important part of your Chapter 13 filing will be what is known as the "Chapter 13 plan." This plan will detail the amounts you propose to repay your creditors. Our law firm has devised numerous Chapter 13 plans, and we will help you develop a plan that meets your needs. Upon filing for bankruptcy, the automatic stay will commence. The automatic stay will prevent your creditors from taking action against you. Once you file your Chapter 13 petition, the Chapter 13 trustee oversees a Meeting of Creditors also known as a Confirmation Hearing. Your Chapter 13 plan is "confirmed" or approved during this process, which may include a court hearing in front of a bankruptcy judge. The Chapter 13 trustee will evaluate your bankruptcy petition, receive your bankruptcy payments and distribute these payments to your creditors.
The Meeting of Creditors is held approximately 45 days after you file your Chapter 13 petition. During this meeting, you will have a chance to answer questions about your financial affairs, and your proposed repayment plan. Your lawyer from the firm of David F. Cannon will be there for you in this meeting to discuss your plan with the Chapter 13 Trustee and any creditors that attend. The Meeting of Creditors is also the confirmation hearing on your Chapter 13 repayment plan. At the Meeting of Creditors the Chapter 13 trustee will decide whether your plan is acceptable. If not, a hearing in front of the U.S. Bankruptcy Court is immediately set. Our law firm has represented countless clients in confirmation hearings and will take every step within the law to help you.
Contact Nashville Chapter 13 Debt Restructuring Attorney David F. Cannon
If your debt issues are overtaking your life, get help. Call 615-800-3725, toll free at 877-696-8680, or e-mail our law firm today to schedule a consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
