The prospect of filing for chapter 7 bankruptcy can be frightening and difficult for many people. However, Hurst Law Firm’s chapter 7 bankruptcy lawyers in Memphis can help you through the entire process, explaining how to file for chapter 7 bankruptcy and what to expect during the progression.
What is Chapter 7 Bankruptcy? (Straight Bankruptcy)
Chapter 7 bankruptcy is a common instrument that can be used to settle unresolvable amounts of debt within the security of the federal court. By working with skilled chapter 7 bankruptcy lawyers, Memphis residents can resolve debt while stopping creditor harassment, foreclosures, repossessions, and lawsuits. Chapter 7 bankruptcy is not a plan of repayment; instead nonexempt assets are sold to pay off money owed to creditors. While chapter 7 bankruptcy may lead to the loss of property, the bankruptcy code of law will protect exempt property from being sold.
Chapter 7 bankruptcy also can forgive debt that has no collateral. Our Memphis based chapter 7 bankruptcy lawyers have years of experience helping people resolve large amounts of debt; and we will work with you every step of the way to make sure you get the best outcome possible. Hurst Law Firm’s debt help services in Memphis are the first step towards a fresh debt-free start. Call our office today, we can help you find out if you’re eligible for chapter 7 bankruptcy. Hurst Law Firm is here to answer your questions and help you move on with your life, debt-free. Contact us today to request your free consultation.