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Any plans for debt management that are created during credit counseling must be filed with the court upon Chapter 7 bankruptcy filing. There is no minimum amount of debt required before a Chapter 7 Bankruptcy case can be filed.
Upon filing, the court will assume legal control of your debts and any property not covered by your Tennessee exemptions. A trustee will be appointed to your case by the court. The job of the trustee is to see that your creditors are paid as much as possible.
For example, you cant discharge debts related to recent taxes, alimony, child support, and court orders. You may also not be allowed to keep certain assets, credit cards, or bank accounts, nor can you borrow money without court approval.
A bankruptcy discharge releases the debtor from personal liability for certain specified types of debts. In other words, the debtor is no longer legally required to pay any debts that are discharged.
Thats because Tennessees homestead exemption law provides protections against home seizure during Chapter 7 bankruptcy. Essentially, the home is an exempt asset, and so long as the homeowner has maintained good standing with the mortgage company, they can usually keep their home.
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By mail or in person. You may file a claim either by mail or in person by completing the proof of claim form and delivering it in person or mailing it to one of the Clerks offices below where the case was filed as shown on the notice you received from the court.
All bankruptcy cases are handled in federal courts under rules outlined in the U.S. Bankruptcy Code. There are different types of bankruptcies, which are usually referred to by their chapter in the U.S. Bankruptcy Code.

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