Our Knoxville Law Firm Provides Help in Matters Including:
Chapter 7 Bankruptcy
Chapter 7 bankruptcy will wipe out your debts and allow you to start over. However, not all debts may be discharged in a Chapter 7 bankruptcy, including alimony, child support, fraudulent debts, various taxes, and outstanding student loans.MORE ABOUT CHAPTER 7
Chapter 11 Bankruptcy
Reorganizing your business is the principal objective of filing for Chapter 11 bankruptcy. Individuals, corporations, and professional partnerships are often able to retain assets and operate their business while reorganizing and developing a repayment plan.MORE ABOUT CHAPTER 11
Chapter 13 Bankruptcy
Chapter 13 bankruptcy requires a 3-5-year repayment plan to creditors to pay off all or part of the debts using funds from future income. Chapter 13 allows you to avoid foreclosure, make up missed car or mortgage payments, pay back taxes, and more.MORE ABOUT CHAPTER 13
Subchapter V, Small Business Bankruptcy
In 2019 Congress recognized that a streamlined, less expensive, small business chapter 11 could be lifeline to small business owners trying to get through an economic setback. As a result, in February 2020, Chapter 11, Subchapter V, became a bankruptcy filing option. Initially, the debt limit was $2.73 million. However, the federal stimulus program (CARES ACT) expanded eligibility this year to businesses and individuals with up to $7.5 million in debt. Now small business owners have the ability to quickly present a debt restructuring plan that may be approved even if creditors don’t like it (“cramdown”), the owner can continue in control of running the business, and the entire process should be quicker and less expensive.MORE ABOUT SUBCHAPTER V
James R. Moore is admitted to practice in the State of Tennessee, the United States District Court, and the United States Court of Appeals for the 6th Circuit. He received his legal education from the University of Tennessee and has extensive experience with Chapter 7, 11, and 13 bankruptcy, along with complex financial litigation and actions.
Brenda Brooks completed her legal education in 1988, graduating from the University of Tennessee College of Law. Brenda's practice includes all aspects of debtor-creditor rights, with emphasis on debtor representation in Chapter 11 bankruptcies and small business reorganization. Brenda serves as a Subchapter V trustee in the Eastern District of Tennessee in cases in which the debtor elects to file Chapter 11 as a small business under Subchapter V of the Bankruptcy Code.