• Tennessee Bankruptcy FAQs

    Can I choose whether I file Chapter 7 or 13?

    No, debtors do not choose which bankruptcy chapter they file. Rather, they qualify for one chapter or the other. Generally, people whose income level falls within their state’s median levels only qualify for Chapter 13. People with lower income levels typically qualify for Chapter 7. There are, however, some exceptions.

    What if bankruptcy isn’t right for me?

    Mr. Sissman analyzes all his clients’ debt situations to determine if filing bankruptcy is really in their best interest. When bankruptcy is not appropriate, he refers them to a reputable colleague that can assist with other non-bankruptcy solutions.

    Can I keep my house if I file bankruptcy?

    This is difficult to predict without knowing the exact circumstances of both your property ownership and the amount of debt you owe. Generally, people who file Chapter 13 tend to maintain ownership of their home more often than people who file Chapter 7.

    Can I get my electricity turned back on if I file bankruptcy?

    Again, this will depend on your unique debt circumstances, but typically, you can get your utilities (electricity, water, gas, etc.) reinstated when you file a Chapter 7 or 13 bankruptcy. Other factors that may determine your eligibility for this provision are how much you owe on your utilities and how many times they were turned off previously.

    Can filing bankruptcy cancel my tax debts?

    It is definitely not typical, but every once in awhile, a debtor’s old income taxes may be discharged during bankruptcy. As a rule, though, it is more likely that your tax debt will be non-dischargeable debt.

    Will I ever be able to qualify for another loan if I file bankruptcy?

    There is no definitive answer to this question. Filing bankruptcy may make it harder to qualify for loans in the future, but remember, bankruptcy can often be the first step toward financial stability. After you have filed, it takes time to rebuild your credit, but you can reclaim economic stability.

    Call 1-901-620-6347 for help filing bankruptcy in Memphis.

    The Law Office of Ben G. Sissman represents clients from Memphis and surrounding counties north to the border: Shelby, Fayette, Tipton, Haywood, Lauderdale, Crockett, Dyer, Obion, Lake, and Gibson. For effective legal guidance, contact a Memphis bankruptcy law firm today.

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