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How to Find Bankruptcy Records in Tennessee

Like other states in the United States, Tennessee also provides its residents with the option of filing for bankruptcy, if he/she is unable to repay his/her debts in time, or is finding it hard to manage the situation. Like each of the other 94 federal judicial districts, Tennessee also requires people to file bankruptcy cases in the district bankruptcy courts and federal laws apply to the handling of such cases.

In this article, an insight into the process of bankruptcy and a way to find Tennessee Bankruptcy Records will be elaborated upon. Please continue reading to find out more.
 
The process of bankruptcy in Tennessee

Bankruptcy cases need to be filed in district bankruptcy courts in the state of Tennessee and cannot be filed in state courts. As mentioned above, federal laws regulate such cases and provide the debtor who is not able to pay his debts anymore, to clear the same with the help of a repayment plan or asset liquidation plan, whose revenue would be used to clear his/her debts.

Troubled businesses can also benefit from the bankruptcy laws of Tennessee, as they can find a way to repay their creditors through liquidation or reorganization. Title 11 of the United States Code, specifically the Bankruptcy Code, covers this procedure. The three types of bankruptcies that a person can file in the state of Tennessee include Chapter 7, Chapter 11 and Chapter 13 bankruptcy.

State Records Tennessee

Bankruptcy laws in the state of Tennessee aim to serve two main purposes. These purposes can be summarized as below:

  • It aims to provide the ‘honest’ debtor with a ‘fresh start’, by allowing him/her to relieve himself/herself from most of the debts that he/she owes.
  • It aims to create an organized and orderly system of paying creditors, even to the extent of liquidating assets of the debtor to clear the amount that is owed.
The two aforementioned purposes are served accordingly, depending on the type of bankruptcy the debtor has filed for. While certain cases allow the debtor to reorganize and create a sustainable plan for repaying his/her debts, others take measures that are more drastic by resolving the debt through the liquidation of the debtor’s properties.
 
The process starts with the debtor approaching the bankruptcy court and filing a petition. Entities who can file such petitions include a husband and wife duo, an individual or a business corporation. Along with the petition, the debtor is also required to file a statement that contains details about all of his/her assets, liabilities he/she might owe, his/her annual income and the contact details of every creditor along with the amounts that they are owed.

By filing for bankruptcy, an individual puts a ‘stay’ on all types of attempts made by creditors to accrue their debts, and thereby also puts an end to all sorts of haranguing techniques that creditors might resort to, to garnish the amount they are owed.

Public Records Tennessee

Finding Bankruptcy Records Tennessee

Bankruptcy Records in Tennessee are matters handled by the federal courts and hence are maintained and updated by the federal records department, which is usually housed in the federal district bankruptcy court where the case was held. Tennessee Public Bankruptcy Records, as the name suggests are public records and therefore, the public has the right to view or inspect such records unless and until the government has sealed the records or deemed them confidential.

To access Tennessee Public Bankruptcy Records you need to approach the records department of the United States Bankruptcy Court for the Middle District of Tennessee. Three federal bankruptcy courts are available in the state of Tennessee. The first one is in Nashville, named United States Bankruptcy Court Middle District of Tennessee located on 701 Broadway, Room 170, Nashville, TN 37203, the second one is in Columbia, named Federal Building and Courthouse located on 815 South Garden St., Columbia, TN 38401, and the third one is in Cookeville, named L. Clure Morton Post Office and Courthouse, located on 9 E Broad St., Cookeville, TN 38503. You can contact these courthouses by visiting them directly or you can take the help of a third-party organization as well, who can help you with the procurement of bankruptcy records.

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