When Financial Struggles Demand Action
Financial hardship can strike anyone—whether from job loss, medical bills, or credit card debt that snowballs out of control. For many in Memphis, consumer bankruptcy is a legal and practical option to stop the cycle of debt and make room for a more stable future. At Hurst Law Firm, P.A., we guide individuals through this process with a focus on practical solutions.
What Is Consumer Bankruptcy?
Consumer bankruptcy refers to legal filings made by individuals rather than businesses. The two most common types are Chapter 7 and Chapter 13. Each has its own approach to debt relief.
Chapter 7 is often used when there’s no realistic way to repay debts. It can discharge unsecured debt such as credit card balances, payday loans, and medical bills. Chapter 13, on the other hand, allows for repayment over time through a structured plan. It’s typically used by those with regular income who want to keep their home or vehicle while resolving overdue payments.
Immediate Relief from Creditors
One of the most immediate benefits of filing for consumer bankruptcy is the automatic stay. This halts collection calls, foreclosure actions, lawsuits, and wage garnishments. It gives you breathing room to assess your financial situation without added pressure from creditors.
Bankruptcy doesn’t erase every type of debt, but it can drastically reduce the total you owe and give you the tools to start fresh.
Choosing the Right Path Forward
The choice between Chapter 7 and Chapter 13 depends on many factors—your income, assets, and goals for the future. Some people need fast relief and qualify for Chapter 7. Others benefit from the extended payment timeline of Chapter 13 to catch up on mortgage or car payments.
At Hurst Law Firm, P.A., we don’t believe in one-size-fits-all solutions. We take the time to understand your situation so we can help you choose the option that makes the most sense for your life.
If you feel buried by debt and unsure of your options, speaking with a consumer bankruptcy attorney in Memphis, TN can provide clarity. The right guidance can help turn confusion into a plan—and debt into a thing of the past.
