Bankruptcy Lawyer Bartlett, TN

Bankruptcy Lawyer Bartlett, TN

If you are considering filing for bankruptcy, a bankruptcy lawyer in Bartlett, TN may be able to provide assistance. Bankruptcy is a complex process, and you want someone knowledgeable and experienced on your side. Here are a few important things to remember before your initial meeting with your lawyer.

Get Organized

Before your meeting with your bankruptcy lawyer, gather all the paperwork you need to bring with you, such as tax returns, income documentation, mortgage statements, and bank account statements. These documents will help your lawyer get a clearer picture of your financial situation.

Be Prepared to Answer Questions

During your initial consultation with a bankruptcy lawyer, he or she will have many questions about your financial and debt situation. You may feel uncomfortable answering some of these questions first, but it’s necessary to give your lawyer the right information. Remember that your lawyer is there to help you, not judge you.

Prepare Your Own Questions

At the initial meeting, your bankruptcy lawyer in Bartlett, TN shouldn’t be the only person asking questions. It’s equally as important for you to ask questions to find out information about your lawyer’s skills and experience. Here are a few questions you may want to ask:

  • How many bankruptcy cases do you handle a year?
  • Where did you attend law school?
  • What are the strengths and weaknesses in my case?
  • Do you think I should file Chapter 7 or Chapter 13 bankruptcy?
  • How long do you think my case will take to complete?
  • What is the best way to reach you?
  • What are your fees?

Don’t Hesitate to Take Notes

During your initial meeting, your bankruptcy lawyer may throw a lot of information your way. To avoid forgetting everything your lawyer tells you, bring a notepad and pen with you to your meeting.

Trust Your Gut Feeling

It’s not enough for your bankruptcy lawyer to be skilled and experienced. You also have to trust this person and feel comfortable communicating with him or her. For example, if your lawyer has trouble giving you complete answers to your questions and doesn’t seem interested, you may get a bad feeling. In this situation, it may be best to move onto someone else.

Know That You Don’t Have to Make Your Decision Immediately

Filing bankruptcy is a big deal, so you shouldn’t rush your decision. Don’t feel pressured to make a decision at the end of your meeting with your lawyer. Take some time to review what your lawyer told you and determine if bankruptcy is still the right option.

Schedule a consultation at Darrell Castle & Associates. Our bankruptcy attorneys are known for their compassion, hard work, and results.

Benefits of Hiring a Bankruptcy Lawyer

If you are considering filing for bankruptcy, you may wonder if it’s necessary to hire a bankruptcy lawyer in Bartlett, TN. Although you’re not required to work with a lawyer, it’s in your best interest. Here are some benefits of working with a bankruptcy lawyer:

  • Educate you about your options: Determining whether or not bankruptcy is the right option for you can be tricky. A qualified bankruptcy lawyer can review your case and let you know if you’re a good candidate for bankruptcy. If you are, he or she will then help you choose between Chapter 7 and Chapter 13 bankruptcy. Chapter 7 discharges most of your unsecured debts while Chapter 13 requires a repayment plan. 
  • Assist with the paperwork: When you file for bankruptcy, you’ll be required to fill out a lot of paperwork. These documents may include complex legal terminology that you don’t understand. If you make an error on the paperwork, it could delay your entire case. An experienced bankruptcy lawyer understands all of the terminology in the paperwork and will help you fill it out accurately and in a timely manner.
  • Understand what to expect: If you’ve never been through bankruptcy, you probably don’t know what to expect. A bankruptcy lawyer in Bartlett, TN can educate you about the process and the types of things you should expect. For example, your lawyer may tell you about the debts you can and can’t discharge and how bankruptcy can have an impact on your credit rating.
  • Stop calls from creditors: When you’re behind on your bills, your creditors will likely call you each day demanding payment. This can definitely add to your stress. Once you file for bankruptcy, an automatic stay will be issued and your creditors will have to stop contacting you. However, some creditors don’t follow this rule and may still try to contact you. An experienced bankruptcy lawyer in Bartlett, TN will put a stop to this.
  • Save time: Bankruptcy is a complex process. If you opt to go through it alone, you may spend countless hours researching information about bankruptcy and waste precious time. A skilled bankruptcy lawyer knows the ins and outs of the process and can help you get through it faster.
  • Give you peace of mind: Going through bankruptcy can be a scary process. If you have a skilled bankruptcy lawyer on your side, you will have a peace of mind that everything will turn out just fine.

Schedule a consultation at Darrell Castle & Associates. Our bankruptcy attorneys are known for their compassion, hard work, and results.

Protect Your Assets with a Bankruptcy Lawyer You Can Trust

A bankruptcy lawyer in Bartlett, Tennessee, can make all the difference between holding onto your assets, and losing everything you’ve worked hard to build. Bankruptcy is never an ideal situation, especially if you’re forced to liquidate assets. It can be heart wrenching to watch everything you’ve worked for slip through your fingers – and it can be a major hurdle to overcome for those who are unsure of whether they should declare bankruptcy in the first place. Nobody should have to worry about losing their possessions, but in the event of bankruptcy, it can seem like everything is fair game. Second homes, collections, cars, and anything else you may own – everything tells a story, and it’s painful having to sell these off to satisfy the demands of your creditors.

Your reasons for declaring bankruptcy may vary. Some people are simply unable to get out from under their mounting debt, and have no other choice. Others are victims of unfortunate circumstances: For example, a survivor of a serious car accident could be stuck paying medical bills (and unable to work), meaning their financial obligations quickly add up while they’re unable to pay. Others may be dealing with serious illness, which (like a car accident) can seriously restrict their ability to work, and their ability to pay off their debts. Bankruptcy is an unfortunate situation, but at the end of the day, breaking free from serious debt is a chance to start over fresh.

Whatever the situation, it’s important to fully understand your options for declaring bankruptcy. There are two main options for personal bankruptcy, and they both have their pros and cons. Fortunately, a bankruptcy lawyer in Bartlett, TN, can help you learn more about each choice.

  • Chapter 7: Also known as liquidation bankruptcy. When filing Chapter 7 bankruptcy, you are providing yourself with a quick way out from under debt, and a clean slate with which you can start over. This comes with a catch: You’ll have to sell off your assets to pay back your creditors. This list of asset can extend to vehicles above a certain value, second properties, and even those treasured family heirlooms. Chapter 7 is a fast way out from under debt, but there is a definite downside.
  • Chapter 13: Unlike Chapter 7 bankruptcy, Chapter 13 allows you to slowly climb out from under debt without losing (as many) assets. This means developing a plan and sticking to it, and while it may not be as immediate as Chapter 7, you are able to hold onto your assets and prevent the loss of those precious items and investments that you have built over time.

Tips on What to Disclose When Filing for Bankruptcy

If you’re planning on filing for bankruptcy, a bankruptcy lawyer from Barlett, TN will likely tell you to keep a few things in mind. Our experienced lawyers at Darrell Castle and Associates, PLLC have compiled a few tips on what to disclose during your filing.

Don’t Plan on Discharging One Debt

While there are debts that you cannot discharge, such as child support and student loans, you should not try to hide a credit card account. When you file for bankruptcy, you should list all of your debts and do not expect to get rid of one credit card.

For example, say that you have one credit card with a high balance and never used one. You may figure it couldn’t hurt to keep the one credit card, but odds are you won’t be able to. After you file for bankruptcy, the creditor will be notified. The odds are the credit card company will cancel your card once you file for bankruptcy.

Do List All of Your Property

When filing for bankruptcy, you need to list all of your assets. This does not mean that you will lose your assets to pay the debt. There are exemptions. For example, you will not have to sell your primary car or home to settle a debt. However, if you fail to include property or other assets, you could be accused of hiding your assets. This is a form of bankruptcy fraud. Bartlett, Tennessee bankruptcy lawyers from Darrell Castle and Associates, PLLC can help you get organized.

Don’t Forget Creditors

You want to list every creditor during a bankruptcy, regardless of whether you owe money or not. If you owe money but do not list the creditor, then the debt won’t be discharged. When you file for Chapter 7 bankruptcy, you have to inform the creditor ahead of time so that they can object if necessary.

In Chapter 13 bankruptcy, you have to notify the creditors so that they have an opportunity to file proof of claim so that you can pay them in accordance with your payment plan. Like Chapter 7 bankruptcy, they can also object to the debt discharge.

Now, if you forget but have no assets, then some states will consider it to be no harm, no foul. Since the creditor would not have received payment, you can still discharge the debt without any consequences. Every state has different laws regarding listing creditors, but it is better to lean on the side of caution and list all of your creditors.

Your best bet is to discuss your options with a bankruptcy lawyer when it comes to filing bankruptcy. He or she can help guide you through the process. With over 30 years of experience practicing bankruptcy law in Tennessee, our lawyers are well-versed in navigating bankruptcy filings and can help you figure out what course of action is best for you. Set up a consultation today with a Barlett, TN bankruptcy lawyer to find out what choices you have, in regards to bankruptcy.

Contact a Bankruptcy Lawyer Today

Do you really want to lose everything you’ve worked hard to build for yourself and your family? It is a nightmarish idea, but sometimes it’s the only way out from under debt. Fortunately, at Darrell Castle & Associates, we understand how difficult it can be to consider losing everything just to satisfy your creditors. We’re dedicated to working closely with you to determine which type of bankruptcy is best for you, and how you can best develop a financial plan that suits your needs. Contact a bankruptcy lawyer Bartlett, TN residents trust, and reach out to us today.