Get Answers About Chapter 7 Bankruptcy
Chapter 7 bankruptcy is intended to give a person who is hopelessly burdened with debt a fresh start by wiping out those debts. However, there are many misconceptions about bankruptcy provisions. Do not trust what you hear from a co-worker or a friend. Talk to experienced Memphis, Tennessee, bankruptcy lawyer Holly Schumpert, to get direct, authoritative answers that are specific to your circumstances.
In a free initial consultation, I would be happy to learn about your situation and answer common questions you might have such as:
- What debts can be discharged?
- Will I be able to keep my house and/or car?
- What are the advantages/disadvantages of Chapter 7/Chapter 13?
- How can I eliminate my IRS debt?
- How will this affect my spouse?
- Will this ruin my credit?
- Who will find out about my filing a bankruptcy?
- Does my employer have to know if I file bankruptcy?
- When will I be able to buy a house or car again?
- How can I reinstate my revoked driver's license?
At the Holly Schumpert Law Office, located in Memphis, Tennessee, I educate individuals about the bankruptcy process and help them make smart choices and get the fresh start they need and deserve. Contact my bankruptcy law office to learn more.
Exceptional Bankruptcy Service at a Competitive Price
Another common question I get from clients is, "How much does it cost to file Chapter 7 bankruptcy?" When you already have more bills than you can pay, the idea of one more can be daunting. I am proud to offer one of the lowest rates available in the Memphis area, with attorney fees starting at $600 for a Chapter 7 bankruptcy filing. It is common for other Chapter 7 bankruptcy attorneys to start their fees at $1,000 or more. However, at my law firm, you can count on experience, attentive service AND affordable rates.
Memphis and Collierville Lawyer — Get a Fresh Start Through Debt Elimination
When you file for bankruptcy, not only will you be setting yourself up for a brighter future, you will see immediate benefits. Chapter 7 bankruptcy can stop creditor harassment and phone calls, stop lawsuits, stop wage garnishments and liens, as well as stop other harassing collection activities from the moment your bankruptcy petition is filed.
If you are eligible for Chapter 7 bankruptcy — which is determined by numerous factors, including income levels, debt structure, the bankruptcy "means test" etc... — you may be allowed to discharge a significant amount of debt, such as credit card debt, medical debt and other eligible debt, without penalty. Chapter 7 bankruptcy is frequently known as debt liquidation or asset liquidation. That is because some of your assets may be sold by the bankruptcy trustee in order to pay certain debts. However, there are important asset exemptions that enable you to keep ALL or a significant amount of assets. I can work with you to identify what property is exempt from liquidation.
The process of filing a Chapter 7 bankruptcy, from filing to discharge, usually takes about four-and-a-half months in most cases.
If you do not qualify for a Chapter 7 bankruptcy, or it is not your best option, other options — including a Chapter 13 bankruptcy — may be a better choice for you to meet your financial goals. Learn more about the difference between Chapter 7 and Chapter 13 bankruptcy.
Is Chapter 7 Bankruptcy Right for You?
Call Attorney Holly Schumpert for a thorough analysis of your situation to make this determination.
Bankruptcy is not the right choice for everybody. In a free consultation, I can review your unique circumstance and help you make a smart choice. If bankruptcy is not the right answer, I can help you take other actions that can bring you debt relief and help you regain your financial independence. Contact my Memphis law office to discuss whether Chapter 7 bankruptcy is the right choice for you. Call 901-323-9000.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
