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Chapter 7 Bankruptcy

Chapter 7 bankruptcy is for those who are struggling in a challenging economy and want a fresh start. Many hardworking people lose their job, have unaffordable mortgages, or encounter circumstances that make it impossible to keep up with monthly expenses. Chapter 7 can eliminate:

  • Collection Calls & Letters
  • Credit Card Debt
  • Medical Bills
  • Garnishments
  • Personal Loans
  • Foreclosure & Repossession Deficiencies
  • Lawsuits

While filing a bankruptcy is an important decision, a Chapter 7 can lead to:

  • Regaining Control of Finances
  • Stress Relief
  • Future Ability to Acquire Credit

You may even be able to keep your house and vehicles if you are current with your payments. Most importantly, Chapter 7 bankruptcy will provide relief from creditors that you need.

Chapter 13 Bankruptcy

In today's tough economic times, many people have found themselves financially stressed but not wanting to lose any of their hard earned assets or property. Chapter 13 bankruptcy is designed for individuals who have a steady source of income, but are simply unable to keep up with their bills. A Chapter 13 bankruptcy can provide the relief you need by setting up one low monthly payment for all of your bills. Filing a Chapter 13 bankruptcy can:

  • Stop Foreclosure / Save your Home
  • Eliminate second mortgage or home equity line of credit
  • Prevent Vehicle Repossession
  • Resolve Tax Issues
  • Stop Garnishments and Lawsuits
  • Eliminate Debts such as credit cards, medical Bills, and personal loans
  • End Creditor Calls and Letters
  • Keep your Assets and Property

Stop Foreclosure / Save your Home

A Chapter 13 bankruptcy gives you the ability to save your home if you have become delinquent on the payments and/or the bank has begun the foreclosure process. The action of filing a Chapter 13 bankruptcy immediately stops the foreclosure. It also allows you to make one low monthly payment to cure the delinquency on your home.

Eliminate Second Mortgage or Home Equity Line of Credit

A Chapter 13 bankruptcy provides a homeowner with a way to eliminate a second mortgage or a home equity line of credit. Unfortunately in this economic climate, many of us have seen our homes drop significantly in value. Therefore, if the first mortgage on your residence is higher than the market value of the home, any other loans against the house can be removed from the deed and discharged in the bankruptcy.

Prevent Vehicle Repossession

Once a Chapter 13 bankruptcy is filed, your car creditor is put on notice that they must cease and desist all efforts to repossess your vehicle. As part of the Chapter 13 bankruptcy, those who are behind on their car payments will also have the ability to catch those payments up by the means of making one low monthly payment through the bankruptcy court.

Resolve Tax Issues

Chapter 13 bankruptcy provides for a repayment plan of your taxes. Old federal and state taxes may be discharged. Those taxes that remain will be put on an affordable payment plan that will be paid through the bankruptcy court.

Under Chapter 13 bankruptcy, debts can be consolidated into one low monthly payment that you can afford. And in most cases, you can be out of debt in three to five years.

Chapter 13 bankruptcy gives you the option to keep your house and your vehicles. Most importantly, Chapter 13 bankruptcy will provide relief from creditors that you desire.

Every situation is unique and our experienced lawyers will determine the best option for you.  Bankruptcy is not an end but an opportunity at a new beginning.