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Bankruptcy Knoxville

Millions of Americans are facing financial trouble. Are you one of them? Then you’re at the right place.

If you’re struggling to meet all your financial obligations, then you probably feel like the chips are stacked against you and you have no way out. But in reality, the law is on your side. You simply need to use it to your advantage instead of letting your creditors continue to abuse your rights. Tennessee law allows consumers to protect themselves through bankruptcy.

If done the right way, bankruptcy will put you on the path to sound financial footing and allow you to possibly keep many of your assets.

MLF is a full-service and experienced Knoxville Bankruptcy law firm and we’re here to help you get the help you need. We offer free consultations with no obligation. Simply call us today to set up an appointment and
we’ll start right away to help you get your life back on track.

Remember, bankruptcy means solutions. Call us today at 865-560-9865 to get your personalized solution from an experienced Knoxville bankruptcy attorney. With our help, you can get a fresh start to your finances.

When you come to see us, the consultation and advice are completely free and there is never any obligation. After discussing your case with us we will outline a customized plan specific to your needs. We’ll work to get the best possible bankruptcy outcome for you.

Working with us you will be given a full bankruptcy evaluation and all your options will be thoroughly discussed.  Our attorneys are familiar with the Tennessee and federal laws and can easily guide you through the process and inform you of any pitfalls.

Why You Should Call Us?

When it comes to your financial well-being, you shouldn’t take chances. Our firm has the skill and experience to get the law working for you rather than against you. We’ll stop the creditor harassment and negotiate on your behalf with creditors and the Courts. With our help you may be able to discharge most or even all of your debts and safeguard your assets where possible. If nothing else, come in and meet with us so you can see what your options are. Then you’ll be able to make a decision that works for you.

Bankruptcy Knoxville is what we do. Call now!

What happens in the Bankruptcy Process?

The bankruptcy process begins when we file a petition in court on your behalf. At the same time we will file a list of assets and liabilities you have and a statement of your current income and spending. This information is used by the Courts to determine your obligations and ability to repay. We will also submit tax returns, copies of contracts and leases, and a certificate of credit counseling. Within 20-40 days a meeting of creditors will be held.

This meeting will occur downtown at the U.S. Courthouse on Market Street. At this meeting your creditors and the Trustee will be able to ask questions about your income, debts, and assets. Ten days later the Trustee will file a report that states whether you qualify for Chapter 7 bankruptcy relief. If not, you may be able to file under Chapter 13. Typically within four months of filing the petition the discharge will occur and the bankruptcy will be complete.

For more information, call us to set up a free appointment at 865-560-9865.

Related Sites: Chicago Bankruptcy Lawyers

As a follow up to our last post about the Sun Belt recession this article from the Wall Street Journal shows a direct correlation between the housing bust and personal bankruptcies. The two are a natural fit considering how dramatically the fall in housing prices hurt family finances. Here’s an excerpt:

“There’s a close relationship between high levels of household debt, including mortgage debt, and bankruptcy filings,” said Samuel J. Gerdano, executive director of the American Bankruptcy Institute, a research organization made up of attorneys, accountants and other bankruptcy professionals. “That…has been exacerbated by the bursting of the housing bubble.”

In Arizona and Nevada, where bankruptcies increased most, filings skyrocketed by 79.6% and 59.5%, respectively. Nearly 6.2% of mortgages in Arizona and 9.4% of mortgages in Nevada were in foreclosure by the end of the third quarter of 2009, according to the Mortgage Bankers Association.

California saw personal bankruptcy filings rise 58.8% last year. At the end of the third quarter, some 5.8% of loans were in foreclosure there.

Not everyone who goes through foreclosure ends up in bankruptcy and not every bankruptcy is driven by foreclosure. Some states with relatively few foreclosures, such as Utah and Wyoming, had larger increases in personal bankruptcies than Florida, the scene of lots of foreclosures.

Call us today if you would like a free consultation about your bankruptcy case.

There have been a lot of positive signs that the economy may be recovering. That’s good news for everyone. But across much of the country that recovery means little to every day people. This is especially true in the so-called Sun Belt across Nevada, Arizona, and California. A perfect example of this is in Nevada where technically the unemployment rate has gone down lately. But the reality is that many people are too discouraged to look for work or have left the state. In other words, the employment numbers alone don’t tell the whole truth. ABC News says the following:

In Riverside County, Calif., the nation’s 11th-most economically stressed county, unemployment dipped slightly in November. But that was due mainly to seasonal hiring by retailers — hiring that didn’t extend past the holidays.

Likewise, unemployment in counties in Arizona and Nevada, two states hammered by the recession, also dropped in November — but only because they lost jobseekers who moved away or gave up hope. Once people stop looking for jobs, they’re no longer counted as unemployed.

“Our rate isn’t going down because the economy is improving,” said Jered McDonald, an economist with the state of Nevada, which has lost about 2.5 percent of its work force since September. “It’s going down because people are either too discouraged to look for work or they’re actually leaving the state.”

The AP’s Economic Stress Index found that the average county’s score for November was 10.2. That was down only slightly from the worst reading during the recession: 10.3 in March 2009.

While East Tennessee hasn’t been hit quite as hard as the Sun Belt, plenty of people are hurting here as well. Bankruptcies continue to be historically high.

Do you need help filing for bankruptcy? Call the bankruptcy attorneys Knoxville trusts for a free consultation about your case. We’re here to help.