901.725.10002287 Union Avenue, Memphis, TN 38104

Tag: chapter 7 bankruptcy

Understanding Chapter 7 Bankruptcy with Hurst Law Firm, P.A.

Chapter 7 Bankruptcy

Hurst Law Firm, P.A. is dedicated to assisting individuals in Memphis who are facing financial difficulties. Filing for Chapter 7 bankruptcy can provide a fresh start for those overwhelmed by debt. Understanding the process and benefits of Chapter 7 bankruptcy is crucial for making informed decisions about your financial future. What is Chapter 7 Bankruptcy? Chapter 7 bankruptcy, often referred…

Read More

Pros and Cons of Chapter 7 Bankruptcy

chapter 7 bankruptcy

Many individuals prefer the Chapter 7 bankruptcy process because it gives them a true fresh start. However, a Chapter 7 bankruptcy will come at a cost. An attorney can help advise you whether Chapter 7 is the right option for you. First, not everyone can qualify for Chapter 7. The process is intended to allow households of lower incomes…

Read More

Handling Debts of a Sole Proprietorship

Chapter 7 bankruptcy

2020 has been a difficult year for consumers and businesses alike. The economic shutdown due to COVID-19 concerns had a particularly challenging impact on small businesses, including sole proprietorships. These are businesses operated by one individual without formal legal formation with the State of Tennessee. Sole proprietorships can be beneficial business arrangements, though one downfall is the lack of…

Read More

Will We See an Increase in Chapter 7 Bankruptcy Cases in 2020?

chapter 7 bankruptcy

2020 will be marked as the year of the COVID-19 (coronavirus) outbreak. With the pandemic has come business closures and Shelter in Place orders throughout the country and the world. While we are all facing this strange time together, some households in the United States are bound to feel the financial burden of quarantine and closures more dramatically. While…

Read More

Requirements for Chapter 7 Bankruptcy Cases

chapter 7 bankruptcy

Chapter 7 bankruptcy is the most common type of bankruptcy filed in the United States. However, not everyone is allowed to have their debts discharged under Chapter 7 of the U.S. Bankruptcy Code, and the following are some basic requirements for a case. To learn whether you qualify for this type of case, speak with a Chapter 7 bankruptcy…

Read More

Is Chapter 7 Bankruptcy the Right Choice for You?

chapter 7 bankruptcy

Chapter 7 is the most common type of consumer bankruptcy, and many businesses also file under Chapter 7 if they are liquidating and shutting down. However, just because this is a popular type of case does not mean it is the right option for everyone who is seeking relief through bankruptcy. You should discuss your situation with an experienced…

Read More

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…

Read More

Chapter 7 Bankruptcy FAQ

chapter 7 bankruptcy FAQ

Chapter 7 bankruptcy is often called a “straight bankruptcy” or a “liquidation bankruptcy,” and it is the most common type of bankruptcy filed in the United States. The following are some common question people have about the Chapter 7 process. If you would like to discuss your bankruptcy options, call a Chapter 7 bankruptcy lawyer in Memphis today. Who…

Read More

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…

Read More