A lot of people wrongly assume that Chapter 7 bankruptcy is somehow inherently better than Chapter 13. After all, Chapter 7 has the advantage of clearing out your unsecured debt very quickly. Chapter 13 takes longer and reorganizes your debts rather than clearing them out entirely. Sometimes clients will come to our office expecting to …
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Are you choosing between a Chapter 7 and Chapter 13 bankruptcy? Are you wondering which you should file, and whether your lawyer is making the best decision for you? Memphis bankruptcy attorney Darrell Castle discusses your options and why both Chapter 7 and Chapter 13 can be legitimate choices depending on your situation. Related PostsHarassment …
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Is declaring bankruptcy different from filing bankruptcy, or talking with a bankruptcy attorney? Well, for starters, declaring bankruptcy is nothing like this: It’s actually the same as beginning the bankruptcy process, which starts by filing a petition with a bankruptcy court. That petition is what protects you from creditors and sets up your estate for …
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If you’re struggling with debt, the odds are you may have some back taxes on your record, too. And if you’re considering bankruptcy, you may have heard the myth that you can’t include back taxes in your case. In fact, most income taxes over 3 years old, and most inheritance and estate taxes can all …
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It would be wonderful if all debts could be washed away somehow for people who are in over their heads. Chapter 7 bankruptcy is designed to help you get out of debt without having to pay it back, so that you can find financial relief and get a fresh start. It handles credit card debt …
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While there’s no limit to how many times you can file bankruptcy, there is a limit on how often your bankruptcy can be discharged. The rules depend on a lot of factors, so it’s best to consult one of our qualified bankruptcy attorneys if you have any questions, but here are a few things to …
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Many taxes can be discharged through bankruptcy, but only in specific circumstances: The due date for filing a tax return has to have been at least 3 years ago. Your return must have been filed at least two years ago. The tax assessment needs to be at least 240 days old. You can’t have committed …
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Qualifications for bankruptcy vary state-to-state and district-to-district. Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), qualifying for Chapter 7 bankruptcy in Memphis requires you make below the average income for your district. In Shelby County and the Memphis area, courts determine this number based in part on census data, the number …
Ever heard of an aerotropolis? Well, if you live in Memphis you may want to get used to the term because we have one, and it could be getting a makeover. City planners and developers from all over the United States convened yesterday in Memphis to discuss possible uses for the 50 mile area surrounding …
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As Pinnacle Airlines deals with filing a Chapter 11 bankruptcy, Memphis International Airport and One Commerce Square downtown are both dealing with potential fallout. But according to Memphis Business Journal, the effects may be minimal – especially for the city of Memphis. In the Journal’s recent article on the bankruptcy, Larry Cox, president of Memphis-Shelby …
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