A Fresh Start Through Chapter 7
For individuals burdened by overwhelming debt in Memphis, Chapter 7 bankruptcy may be a clear path toward financial relief. At Hurst Law Firm, P.A., we work with people who are looking to reset their financial lives. Chapter 7 is designed for those who simply can’t afford to repay what they owe and need a legal way to discharge most unsecured debts.
Understanding Who Qualifies
Chapter 7 isn’t available to everyone, and understanding the eligibility criteria is key. The process typically begins with a means test. This compares your household income to the median income for Tennessee. If your income is below the threshold, you may qualify. If it’s above, further calculations are used to determine if Chapter 7 remains an option.
If you’re struggling with credit card debt, personal loans, or medical bills, Chapter 7 can erase these obligations and give you a chance to rebuild. Certain debts—like student loans, child support, and some taxes—usually remain, but many others are wiped out quickly.
The Process and What to Expect
Filing for Chapter 7 triggers an automatic stay. This puts an immediate stop to creditor calls, wage garnishments, and collection actions. A bankruptcy trustee will be assigned to review your case and may liquidate non-exempt property to repay creditors. However, most Chapter 7 filers in Tennessee keep all or most of their property thanks to generous exemption laws.
In most cases, the entire process takes just a few months. At the end, you receive a discharge that eliminates your qualifying debts.
Why Legal Guidance Matters
Filing for Chapter 7 involves more than just paperwork. Mistakes or omissions can delay the process or result in the dismissal of your case. At Hurst Law Firm, P.A., we work closely with our clients in Memphis to ensure their petitions are complete, accurate, and tailored to their specific situation.
We understand that deciding to file is not easy. But for many, it’s a crucial first step toward peace of mind and financial independence. Chapter 7 bankruptcy isn’t about failure—it’s about opportunity. If you’re considering this path, speak with someone who knows how to move the process forward and help you find relief.
