Estate Planning

When clients come to us for their initial consultations, most ask the same three questions:

• How much does bankruptcy cost? The filing fee in the Bankruptcy Court for the Eastern District of Tennessee is $335. The local rules also allow for the filing fee to be waived or paid in installments if the debtor qualifies.
• How will bankruptcy affect my credit? Bankruptcy will have a negative short-term impact. However, filing bankruptcy is often the best way to improve your credit score over the long term. After the discharge of your debts through bankruptcy, you cannot file for bankruptcy again for eight years. As a result, you become a viable candidate for a loan.
• Will bankruptcy stop creditor harassment? Once you file a petition for bankruptcy, an "automatic stay" goes into effect. This acts as a restraining order against all creditors and collection agencies. The court can hold a creditor who violates the automatic stay intentionally in contempt, making that creditor or agency liable for damages.

What to Expect From Your Initial Consultation

During an initial consultation, our Clinton bankruptcy lawyers first establish our clients' financial goals by asking the following:

• Do you want to erase all of your debts?
• Are you willing to continue making payments to keep your house or car?

After we understand our clients' goals, we work with them to acquire the information and documentation we need to make their goals into realities. Typically, we begin by asking our clients to complete and return our bankruptcy worksheet. By approaching the gathering of information in this manner, we simplify the process from the very beginning and lay out a clear and concise plan.

The Cantrell Law Firm offers a confidential consultation at no cost so you can decide what the best plan is for your particular situation. Reach out to us online, or call us any time at 865-457-9100.