If you’re considering filing bankruptcy in Tennessee, you’ll need to understand the types, costs, as well as some helpful advice to finding good attorneys.

Am I Qualified for Bankruptcy?

Filing for bankruptcy is a legal process that allows individuals and businesses to seek relief from overwhelming debt. Bankruptcy laws in the United States are primarily governed by federal law, but they can vary from state to state. In this case, we will discuss who is qualified to file for bankruptcy in Tennessee, considering both federal and state-specific requirements.

1. Residency Requirement: To file for bankruptcy in Tennessee, you must meet the residency requirement. You should have lived in Tennessee for at least 91 of the 180 days immediately preceding the filing of your bankruptcy case. If you haven’t met this requirement, you may need to file in your previous state of residence or meet the residency conditions for your current state.
2. Credit Counseling Requirement: Before filing for bankruptcy in Tennessee, you are generally required to complete a credit counseling course from an approved agency within 180 days before filing your petition. This course aims to provide you with financial education and alternatives to bankruptcy.
3. Means Test: One of the key eligibility criteria for filing bankruptcy is the means test. The means test determines whether you qualify for Chapter 7 bankruptcy, which is a liquidation bankruptcy that can discharge most of your debts, or whether you should file under Chapter 13, which involves creating a repayment plan. To pass the means test for Chapter 7 in Tennessee, your income must be below the state’s median income for a household of your size. If your income is higher, you may still qualify for Chapter 7 based on your disposable income after deducting allowable expenses.
4. Previous Bankruptcy Discharge: If you’ve received a discharge in a previous bankruptcy case, there are limitations on when you can file again and receive another discharge. For example, if you previously filed for Chapter 7 bankruptcy and received a discharge, you must wait at least eight years before filing for Chapter 7 again. If you previously filed for Chapter 13 and received a discharge, the waiting period before you can file for Chapter 7 is six years.
5. Chapter-Specific Requirements: Depending on the chapter of bankruptcy you plan to file under, there may be additional qualifications and requirements. For example:
   • Chapter 7: To qualify for Chapter 7 bankruptcy in Tennessee, you should not have the means to pay off your debts or be able to fund a Chapter 13 repayment plan.
   • Chapter 13: If you opt for Chapter 13 bankruptcy, you must have a regular source of income to fund a repayment plan that lasts three to five years.
6. Debt Limitations: Some types of debts may not be dischargeable in bankruptcy, such as student loans (unless you can prove undue hardship), child support, alimony, certain taxes, and debts incurred through fraud or malicious conduct. Ensure you understand which debts can be discharged in your bankruptcy case.
7. Completing Required Forms: Filing for bankruptcy in Tennessee involves completing numerous forms and providing detailed financial information. It’s crucial to accurately and honestly fill out all required paperwork to avoid complications in your case.
8. Attorney’s Advice: While it’s possible to file for bankruptcy without an attorney (known as pro se), it is highly recommended that you consult with an experienced bankruptcy attorney. Bankruptcy laws are complex, and an attorney can help you navigate the process, ensure you meet all eligibility requirements, and make informed decisions about which chapter to file under.

Whether you qualify for bankruptcy in Tennessee depends on various factors, including your income, residency, and the type of debts you have. It’s essential to consult with an attorney or a qualified credit counseling agency to assess your eligibility and explore the best course of action for your specific financial situation. Bankruptcy can provide a fresh start for individuals overwhelmed by debt, but it’s a significant legal step that should be taken after careful consideration and guidance from professionals familiar with the intricacies of bankruptcy law.

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Do You Need a Lawyer to File For Bankruptcy in Tennessee?

While it is possible to file for bankruptcy in Tennessee without an attorney, it’s generally advisable to have legal representation due to the complexity and potential pitfalls of the bankruptcy process. Here’s an explanation of when you might need a lawyer to file for bankruptcy in Tennessee and the benefits of having one.

1. Understanding the Law: Bankruptcy law is intricate, and it’s subject to both federal and state regulations. Without a lawyer’s expertise, you may struggle to navigate the legal requirements, deadlines, and specific procedures involved in a bankruptcy case. An attorney can help you comprehend the laws and ensure that you meet all the necessary criteria for filing.
2. Choosing the Right Chapter: Tennessee bankruptcy law allows individuals to file for Chapter 7 or Chapter 13 bankruptcy, each with its own set of rules and benefits. Determining which chapter is most suitable for your situation can be challenging. A lawyer can assess your financial circumstances, advise you on the best chapter to file under, and help you understand the implications of that choice.
3. Completing Complex Forms: Filing for bankruptcy involves completing numerous forms and providing detailed financial information. Mistakes or omissions in these forms can result in delays or even the dismissal of your case. Lawyers are well-versed in the paperwork required and can ensure that it is correctly filled out, reducing the likelihood of errors.
4. Meeting Deadlines: Bankruptcy cases have strict deadlines for filing documents, attending hearings, and making payments. Missing a deadline can have serious consequences, including the dismissal of your case or the loss of certain protections. Attorneys can keep track of these deadlines and ensure that you meet them promptly.
5. Protection from Creditors: When you file for bankruptcy, an automatic stay goes into effect, preventing creditors from taking any further collection actions against you. However, creditors may still attempt to violate the automatic stay. An attorney can help you enforce the stay and take legal action against creditors who disregard it.
6. Negotiating with Creditors: In some cases, it may be beneficial to negotiate with creditors to reach settlements or modify the terms of your debts. An experienced bankruptcy attorney can negotiate on your behalf to secure the best possible outcome.
7. Handling Complex Financial Situations: If your financial situation is particularly complex, involving issues like business debts, tax debts, or high-value assets, it becomes even more crucial to have legal representation. Attorneys can provide tailored solutions and strategies for addressing these complexities.
8. Avoiding Common Mistakes: Many individuals who attempt to file for bankruptcy on their own make mistakes that can jeopardize their cases. Common errors include failing to disclose all assets and debts, underestimating expenses, and misunderstanding the means test. Lawyers can help you avoid these pitfalls.
9. Legal Advice and Guidance: Bankruptcy is a significant financial decision that can have long-term consequences. An attorney can provide legal advice, answer your questions, and offer guidance throughout the bankruptcy process. They can help you make informed decisions about how to manage your debts and assets.
10. Post-Bankruptcy Planning: Bankruptcy doesn’t end when your case is discharged. There are post-bankruptcy financial considerations, such as rebuilding your credit and managing your finances effectively. A lawyer can provide guidance on how to navigate your financial life after bankruptcy.

While it is possible to file for bankruptcy without an attorney in Tennessee, it is generally not advisable. Bankruptcy is a complex legal process with serious implications for your financial future, and making errors or missteps can be costly. Hiring an experienced bankruptcy attorney can provide you with the knowledge, support, and guidance necessary to navigate the bankruptcy process successfully and make the best decisions for your financial situation.

Cost to File Chapter 7 Bankruptcy in Tennessee

The cost to file Chapter 7 bankruptcy in Tennessee involves several components, including court filing fees, mandatory credit counseling fees, and attorney fees if you choose to hire an attorney. Here’s an explanation of these costs:

1. Court Filing Fees: The primary cost associated with filing for Chapter 7 bankruptcy in Tennessee is the court filing fee. It’s important to note that court fees can change over time, so it’s a good idea to check the most current fee schedule on the official website of the U.S. Bankruptcy Court for the Middle District of Tennessee or consult with a legal professional.
2. Credit Counseling Fees: Before filing for Chapter 7 bankruptcy, you are required to complete a credit counseling course from a government-approved agency. The cost of this course can vary, but it typically ranges from $24 to $58. The counseling agency may offer fee waivers or reduced fees for individuals with low incomes.
3. Attorney Fees (Optional): While it is possible to file for Chapter 7 bankruptcy pro se (without an attorney), many individuals choose to hire a bankruptcy attorney to guide them through the process. Attorney fees can vary significantly based on factors such as the complexity of your case, your location in Tennessee, and the attorney’s experience. On average, you can expect attorney fees for a Chapter 7 bankruptcy to range from $1,180 to $2,890 or more. Some attorneys offer free initial consultations to discuss your case and provide fee estimates.
4. Additional Costs: In addition to the above-mentioned costs, you may incur some additional expenses during the bankruptcy process. These could include costs for obtaining credit reports, postage for mailing documents, and transportation to attend required meetings and hearings. These costs are typically not prohibitively high but should be factored into your budget.
5. Fee Waivers: If you are unable to afford the court filing fee or the credit counseling fee, you may be eligible for fee waivers. To request a fee waiver, you will need to demonstrate that you have a low income and cannot afford to pay the fees. The court will review your financial circumstances and make a determination on whether to grant the waiver.
6. Payment Plans: Some individuals who cannot afford to pay all fees upfront may be able to arrange payment plans with the court or their attorney. This can help make the process more manageable by spreading the costs over time.

It’s important to keep in mind that filing for Chapter 7 bankruptcy is a significant financial decision, and while it may require an initial investment in fees, it can provide relief from overwhelming debt and a fresh start. Consulting with an experienced bankruptcy attorney can help you understand the costs involved and make informed decisions about the best approach for your specific financial situation.

Cost to File Chapter 11 Bankruptcy in Tennessee

The cost to file Chapter 11 bankruptcy in Tennessee can vary significantly depending on the complexity of the case, the size of the business or individual’s financial affairs, and whether an attorney is hired. Chapter 11 bankruptcy is typically used by businesses to reorganize and continue operations, but it can also be utilized by individuals with substantial debts that exceed the limits of Chapter 13 bankruptcy.

1. Court Filing Fees: The primary cost associated with filing Chapter 11 bankruptcy is the court filing fee. The filing fee for a Chapter 11 bankruptcy case in Tennessee can be substantial. The exact fee can depend on the amount of debt the debtor has. Generally, it ranges from $1,950 to $3,895. However, these fees can change over time, so it’s crucial to check the most current fee schedule on the official website of the U.S. Bankruptcy Court for the Middle District of Tennessee or consult with an attorney.
2. U.S. Trustee Fees: In addition to the court filing fees, businesses and individuals filing for Chapter 11 bankruptcy may also be required to pay quarterly fees to the U.S. Trustee’s Office. These fees are calculated based on the debtor’s disbursements and can vary widely depending on the financial activity during the bankruptcy case.
3. Attorney Fees (Almost Always Required): Chapter 11 bankruptcy is an intricate and complex process that typically necessitates the assistance of an experienced bankruptcy attorney. Attorney fees for Chapter 11 cases can vary significantly based on factors such as the complexity of the case, the size of the business, and the attorney’s experience. In most Chapter 11 cases, attorney fees can range from tens of thousands to hundreds of thousands of dollars, or even more for large corporate reorganizations. Attorneys often charge both upfront retainers and ongoing fees.
4. Other Professional Fees: Depending on the specifics of the case, additional professionals may be required, such as financial advisors, appraisers, and accountants. Their fees can add to the overall cost of the Chapter 11 process.
5. Administrative Expenses: The debtor is responsible for covering the costs associated with the administration of the Chapter 11 case. These expenses may include the costs of mailing notices, organizing meetings of creditors, and other administrative tasks.
6. Creditors’ Committee Expenses: In some Chapter 11 cases, a creditors’ committee may be formed to represent the interests of creditors. The debtor is usually responsible for covering the reasonable expenses of the committee, which can include legal and professional fees.
7. Post-Petition Debts: During the Chapter 11 process, the debtor is expected to continue operating their business and paying ordinary business expenses, such as utilities and employee wages. These ongoing operational costs can add up over the course of the bankruptcy.

Given the substantial costs and complexities involved in Chapter 11 bankruptcy cases, it is highly advisable to consult with an experienced bankruptcy attorney early in the process. Attorneys can provide a clear understanding of the potential costs, help devise a reorganization plan, and navigate the intricate legal requirements associated with Chapter 11 bankruptcy. Additionally, the fees and requirements may change over time, so it’s essential to verify the current details with the U.S. Bankruptcy Court for the Middle District of Tennessee or consult with a legal professional when considering Chapter 11 bankruptcy.

Cost to File Chapter 13 Bankruptcy in Tennessee

The cost to file Chapter 13 bankruptcy in Tennessee involves several components, including court filing fees, mandatory credit counseling fees, and attorney fees if you choose to hire an attorney. Chapter 13 bankruptcy is a debt repayment plan that allows individuals to reorganize their debts over a three to five-year period. Here’s an explanation of these costs:

1. Court Filing Fees: The primary cost associated with filing Chapter 13 bankruptcy in Tennessee is the court filing fee. The filing fee for a Chapter 13 bankruptcy case in Tennessee is $353. However, please note that court fees can change over time, so it’s a good idea to check the most current fee schedule on the official website of the U.S. Bankruptcy Court for the Middle District of Tennessee or consult with a legal professional.
2. Credit Counseling Fees: Before filing for Chapter 13 bankruptcy, you are required to complete a credit counseling course from a government-approved agency. The cost of this course typically ranges from $27 to $57. Some counseling agencies offer fee waivers or reduced fees for individuals with low incomes.
3. Attorney Fees (Almost Always Required): While it is possible to file for Chapter 13 bankruptcy pro se (without an attorney), most individuals opt to hire an attorney due to the complexities of the process. Attorney fees for Chapter 13 cases can vary based on factors such as the complexity of your financial situation and the attorney’s experience. On average, attorney fees for a Chapter 13 bankruptcy can range from $2,400 to $4,670 or more. Attorneys often charge both upfront retainers and ongoing fees.
4. Chapter 13 Trustee Fees: In Chapter 13 bankruptcy, a trustee is appointed to oversee your case and administer the repayment plan. The trustee is entitled to a fee, which is typically a percentage of the payments made through the plan. This fee is included in your monthly plan payments and does not require a separate upfront payment.
5. Other Costs: In addition to the above-mentioned fees, you may incur other costs, such as the cost of obtaining credit reports, postage for mailing documents, and transportation to attend required meetings and hearings. These expenses are generally not significant but should be considered when budgeting for your Chapter 13 case.
6. Fee Waivers: If you are unable to afford the court filing fee or the credit counseling fee, you may be eligible for fee waivers. To request a fee waiver, you will need to demonstrate that you have a low income and cannot afford to pay the fees. The court will review your financial circumstances and make a determination on whether to grant the waiver.

It’s essential to consult with an experienced bankruptcy attorney when considering Chapter 13 bankruptcy. An attorney can provide you with a clear understanding of the potential costs, help you develop a feasible repayment plan, and ensure that you meet all legal requirements. Chapter 13 bankruptcy can be an effective way to reorganize your debts and gain control of your financial situation, but it is a complex legal process that benefits from professional guidance.

Reliable Bankruptcy Attorneys in Tennessee

Below is a list of reputable bankruptcy attorneys in Tennessee. They can help you with both personal and business bankruptcy information.

The Law Offices Of Mayer & Newton
8351 E Walker Springs Ln #100, Knoxville, TN 37923, United States

Long, Burnett, and Johnson, PLLC
302 42nd Ave N, Nashville, TN 37209, United States

David E. Phillips, Attorney at Law
2525 Lebanon Pike, Nashville, TN 37214, United States

The Law Offices of Philip F. Counce
3333 Poplar Ave, Memphis, TN 38111, United States

Hurst Law Firm PA
2287 Union Ave, Memphis, TN 38104, United States

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Memphis

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Nashville

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Knoxville

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Clarksville

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Murfreesboro

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