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5/23/2007
Robert M. Garfinkle has been appointed Special Deputy Receiverby the Commissioner of the Tennessee Department of Commerce and Insurance in the Receivership of National Foundation of America.
10/13/2006
John C. McLemore has been appointed Trustee in Bankruptcy for Barry R. Stokes, Bankruptcy Case No. 06-05898-KL3-11 in the United States Bankruptcy Court for the Middle District of Tennessee - Nashville Division.
The 1Point Solutions, LLC, and Barry R. Stokes bankruptcy cases have been administratively consolidated under the 1Point case.
Due to the enormous number of creditors, a blog has been set up to communicate with them electronically about the case.
9/29/2006
John C. McLemore has been appointed Trustee in Bankruptcy for 1Point Solutions, LLC, Bankruptcy Case No. 06-05400-KL3-11 in the United States Bankruptcy Court for the Middle District of Tennessee - Nashville Division.
10/17/2005
The new Bankruptcy Reform Act went into effect today. The new requires more from debtors, including pre-filing consultations with an approved consumer credit counseling service in an attempt to force consumers to pay their debts outside of bankruptcy. Additionally, in order to file bankruptcy, a debtor needs certification from that credit counseling agency. An income-based "means-test" determines which debtors may have the ability to pay back some of their debts. Those who do not pass the means test will have to file a Chapter 13. In addition, the reform act requires more documentation from the debtor (tax returns for the past 2 years and pay check stubs for the past 6 months), repeated filings are discouraged, the waiting period between Chapter 7 filings is extended from 6 to 8 years, and a debtor's final discharge is subject to completing a course in financial management.
In addition to the above requirements, you should be aware that the information you give your attorney regarding your bankruptcy filing - information regarding property and income - will be carefully scrutinized and investigated prior to your filing. Dishonesty in these matters could result in even more legal problems for you, so please bear this in mind when you are making your appointment and gathering your information for your appointment.
These are only a few changes that will occur October 17th when the legislation takes affect. Consumers who need financial relief, should consider filing sooner rather than later. This will ensure getting a case filed under the current, more favorable legislation, and also will provide a last chance opportunity to avoid the potential hardships and extra costs associated with the changes.