Relief and peace of mind are two things attorney Lorraine Raymond strives to provide her clients throughout the bankruptcy process. Licensed to practice in Tennessee since 1986, Raymond handles personal bankruptcies (debtor work only) including Chapters 7 and 1 3 and Chapter 11, which deals with corporations.
Sometimes the debt she helps her clients deal with is a personal fault, but oftentimes it’s not, she said. “The first thing I tell people is don’t be embarrassed because you are in debt,” said Raymond. “There are so many people out there like you and me who get in over their heads with large medical debts or find themselves out of work, and there should be no more shame in filing.
“These are not people who are going out and spending lavishly on credit cards. They are using them to survive because they’ve lost a job and can’t find work. Bankruptcy is a federal program enacted by Congress to give people a second chance.”
Chapter 7 is a total elimination of all debt with some exceptions; Chapter 13 is set up to allow individuals to keep their home or car and catch up on their payments. There has to be a regular income to file for Chapter 13, Raymond explained.
Regardless of the type of bankruptcy, the process for her clients begins with calling to set up a consultation and meeting to determine the best plan for the client going forward.