COMMUNICATING WITH YOU, STANDING BY YOU, AND FIGHTING FOR YOU

BANKRUPTCY

Those that struggle for months or even years under the strain from trying to pay all of their debts, have the option of filing for bankruptcy or entering into a debt settlement with their creditors.

Once you file bankruptcy, an automatic stay is put into effect by the court. This means that the harassment stops immediately.

All debtors who file a bankruptcy petition are required to complete two courses online or by phone.

CHAPTER 7 BANKRUPTCY

Chapter 7 Bankruptcy is the easiest and fastest way to discharge debts allowed by the court. The court appoints a bankruptcy Trustee to review the information and proceed with the process. The debtor will be required to meet with the Trustee and Creditors at the “Meeting of the Creditors” shortly after filing bankruptcy.

Chapter 7 Bankruptcy allows for a fresh start, no repayment, and to keep your property while eliminating your debt.

To see if you qualify for Chapter 7 Bankruptcy, call 615-410-7290 today.

 

CHAPTER 13 BANKRUPTCY

Chapter 13 Bankruptcy is a court approved plan over a specified time period where you pay back creditors.

Generally, a Chapter 13 debtor will be allowed to retain all possessions.

A debtor who may consider Chapter 13 Bankruptcy is one who owes income taxes, co-signed debts, student loans, or back child support.

To learn more about Chapter 13 Bankruptcy, call 615-410-7290 today.

 

DEBT SETTLEMENT

Bankruptcy may not be your only option if you have outstanding debt. A debt settlement can be arranged as an alternative to filing for bankruptcy.

A debt settlement is an agreement to reduce the full balance in exchange for a lump sum payment or a payment plan. Creditors enter into these plans because it allows them to collect at least a portion of the debt without the fear of the debtor filing bankruptcy.

It is important to note, that settling a debt will have tax implications. The total amount minus the agreed amount will be treated as taxable income.