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Tag: bankruptcy

Can I Keep My Car in Chapter 7 Bankruptcy?

chapter 7 bankruptcy

When you file for Chapter 7 bankruptcy, you might have to give up certain property and assets in exchange for the discharge of your debts. Many of us rely on our personal cars to get us to work, take kids to school, and get to other obligations and activities. Losing a car in a bankruptcy case can cause many…

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Common Reasons for Bankruptcy

bankruptcy lawyer

Many people assume that bankruptcy results from poor financial decisions. While this can be the case, there are many other reasons why people need financial relief, many of which are beyond their control. If you are struggling with debt, you should discuss your options with an experienced bankruptcy lawyer in Memphis. The following are only some examples of why…

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Bankruptcy FAQ

bankruptcy lawyer

The prospect of bankruptcy can be stressful, though bankruptcy can also be highly beneficial for many people struggling with overwhelming debt. The following are a few frequently asked questions about the bankruptcy process, and please feel free to contact a bankruptcy lawyer in Memphis about your personal situation. What are My Bankruptcy Options? The United States Bankruptcy Code allows…

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Avoid Mistakes on Your Bankruptcy Petition

Memphis bankruptcy lawyer

In order to initiate a bankruptcy case, you must prepare a petition and file it with the appropriate federal bankruptcy court, along with many supporting documents. These documents require you to report complex and detailed personal and financial information, and it is all too easy to make an error. While mistakes do happen, they can have potentially serious consequences…

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What is the Homestead Exemption in Bankruptcy?

Memphis bankruptcy lawyer

Many people worry about filing for Chapter 7 bankruptcy, as it is commonly called the “liquidation bankruptcy.” This means the bankruptcy trustee has the right to seize some of your assets and property to liquidate and make payments to certain creditors before the discharge of your debts. However, this does not mean you will lose your house and everything…

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When is Chapter 13 Bankruptcy the Right Choice?

bankruptcy

Chapter 7 bankruptcy is the most common type of consumer bankruptcy in the United States, with 475,575 filings with bankruptcy courts last year. In contrast, there were 290,146 Chapter 13 filings in the same year. Chapter 7 bankruptcy does not require you to make out-of-pocket payments to creditors, and you can often receive a discharge of your qualified debts…

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