Bankruptcy Lawyers Memphis TN-hand reaching towards a pile of cashBankruptcy Law Firm Memphis TN

When is it most important to seek the most skilled bankruptcy lawyers Memphis TN has to offer? If you’re filing for any type of bankruptcy, it can be beneficial to you to consult with a bankruptcy lawyer to understand the process and protect your rights.

Are you looking for Memphis bankruptcy lawyers who can help you resolve your financial burden? Consider contacting Darrell Castle and Associates, PLLP for assistance and legal guidance. We are here to answer your questions about debt relief and filing for bankruptcy. We are also prepared to guide you through the bankruptcy process.

Deciding Whether or Not You Need an Attorney

It can be challenging to initially determine whether or not you will actually need the help of bankruptcy lawyers Memphis TN locals recommend. While you do not necessarily need to have a lawyer in order to file for bankruptcy, and can fill out the extensive amount of paperwork on your own, it can be invaluable to have a professional help you through every step of the process.

There are a few factors you should consider when considering whether or not to hire an attorney. Ask yourself the following questions:

  • Do I actually have the time, patience, and acuity to investigate the bankruptcy filing process, including researching the relevant laws and filling out a substantial amount of paperwork?
  • Do I intend to file for Chapter 13 bankruptcy?
  • Am I filing for Chapter 7 bankruptcy; if so, is it a simple or a complicated form of bankruptcy?

You may be able to answer ‘yes’ to the first question, in which case, perhaps you are in a position to take on your bankruptcy solo. But most people can avoid a great deal of confusion and pitfalls by working with bankruptcy lawyers Memphis TN residents trust.

How to Find Bankruptcy Lawyers in Memphis TN

In hiring an attorney to guide you through the process of filing for bankruptcy, it is key to find someone who focuses on bankruptcy and debt relief. There are many lawyers out there who try to focus on everything, and in doing so, fail to understand the finer points of helping people escape difficult financial situations. When researching bankruptcy lawyers Memphis TN clients prefer, be sure you make a list of professionals who are well versed in helping clients with Chapter 7 and Chapter 13 bankruptcy, as well as wage garnishment, foreclosures, and repossessions.

  • It can also help to look into the following:
  • Any bankruptcy attorney referrals you can obtain from family members, friends, or other attorneys who you know.
  • Internet directories, especially those that include bankruptcy lawyers.
  • County- or state-wide attorney referral websites.
  • Your employer-recommended legal plan.

Bankruptcy Attorneys You Can Trust

When you’re ready to work with a bankruptcy attorney who cares about your financial situation, consider contacting Darrell Castle and Associates, PLLP. With over 30 years of experience in representing clients, we are in an excellent position to help you find your way through this difficult chapter in your life. To set up a consultation with one of our bankruptcy lawyers Memphis TN clients trust, call today at 901-327-2100.

Is bankruptcy right for me?

If you think bankruptcy may be a viable option for your unique situation, a bankruptcy lawyer Memphis, TN area residents prefer, from Darrell Castle & Associates is available to provide further advice and direction and discuss what the next steps should be. Those who are new to the idea of bankruptcy will benefit from first becoming familiar with the types of bankruptcy and the fundamental concepts that support the structure of each type. 

Types of Bankruptcy

Chapter 7 – Also known as liquidation bankruptcy, Chapter 7 involves a formal exchange of non-exempt assets and properties in exchange for relief from debt. Generally the process the following:

  • A formal property and asset evaluation to determine what property and assets qualify.
  • In many Chapter 7 scenarios, the debtor’s most valuable assets may remain exempt from liquidation.
  • A transfer or sale of qualifying assets to repay creditors.

Chapter 7 is most commonly utilized by individuals who are in need of debt relief.

Chapter 11 – Commonly referred to as reorganization, Chapter 11 is most commonly filed for by businesses when they face large amounts of debt that cannot be paid within a reasonable amount of time. 

The following points regard the implications of Chapter 11 for businesses:

  • The debiting business may maintain possession of the business.
  • It may be determined that the business is eligible to continue operations during and following the process.
  • In some scenarios the business may still be eligible to borrow funds pending upon court approval.

Chapter 12 – Specifically structured to aid farmers and fishermen that are facing serious debts. The fundamental structure of Chapter 12 involves the following components:

  • A formal proposal and execution of a debt repayment plan on behalf of the debtor.
  • Repayment over the course of several years. 

Chapter 13 – Another form of reorganization that is structured to address the needs of debiting individuals instead of businesses. The fundamental structure of Chapter 13 involves the following components:

  • A formal proposal and execution of a debt repayment plan on behalf of the debtor.
  • The amount of the payments is determined through consideration of the income level of the debtor. 

It should be noted that Chapter 13 and Chapter 7 are the most commonly utilized forms of bankruptcy by individuals who are seeking a path towards resolving outstanding debts.

Advantages of Bankruptcy

In the face of complete financial devastation, bankruptcy acts as a lifeline and is a viable framework for debt relief and resolution. By embarking upon the process of bankruptcy, debtors effectively demonstrate that they are proactively taking steps towards resolving their debts, instead of perpetuating delinquent behaviors. By taking a proactive approach to potentially crippling debts, the rights of the debtor can be protected and complete devastation may be avoided.

Bankruptcy is a useful financial tool for decreasing the overall impact and imminent legal repercussions of not repaying debts but is only a viable option under specific circumstances.  An experienced Memphis bankruptcy lawyer from our firm, Darrell Castle & Associates is available to discuss your circumstances. Contact us today to start the conversation. We look forward to hearing from you.

What To Evaluate Before Filing For Bankruptcy 

You may want to talk with qualified Memphis, TN bankruptcy lawyers if you have any questions about filing for bankruptcy, bankruptcy is a serious financial decision and you should take your time gathering the information and financial advice that you need before you decide that it is best for your situation. Memphis bankruptcy lawyers like one from Darrell Castle & Associates can do a detailed evaluation of your case and inform you of your options. You may have other debt relief alternatives to bankruptcy such as debt management that you have not previously considered. Here are some things that you can review to see if bankruptcy is the most sensible option for you.

Type of Debt

The type of debt that you have plays a major role in your eligibility for bankruptcy. Most unsecured debt like medical bills, credit card bills, some personal loans, and utility bills can be discharged if you file for some types of bankruptcy, like Chapter 7. If you are a college graduate and have student loans, filing for bankruptcy may be able to discharge your loans but in highly particular cases. You can discuss your financial situation with a bankruptcy lawyer and they can evaluate whether it is possible for you to discharge your debts. 


The debt relief option that works for you depends on how fast you want to complete the entire process and what you are able to afford. If you want to get rid of your debt faster, you may want to consider filing for Chapter 7 bankruptcy. This type of bankruptcy allows you to complete the entire process in just a few months. There are many people who have their debts discharged in about three to four months when they file for Chapter 7 bankruptcy. Those who file for Chapter 13 bankruptcy in contrast, must complete the process over several years because they have to agree to a repayment plan. 

Your Assets 

A key part of deciding whether bankruptcy is suitable for you is your collection of assets. If you have multiple, high-value assets and you have a specific plan for keeping them or passing them down, bankruptcy may allow you to keep them. If you hope to protect or keep certain types of assets, then filing for bankruptcy could be the best option. Certain types of bankruptcy allow you to keep your assets and not sell them to creditors. A bankruptcy lawyer can give you more information about the different types of bankruptcy, and which ones you are eligible for. 

Your Family Needs

Consider the needs of your family before you file for bankruptcy, because it also impacts them in significant ways. For instance, do you need to be able to preserve your home or property? Then filing for Chapter 13 bankruptcy may be right for you because it allows you to temporarily stall the foreclosure process. This can be a critical part of your decision-making because it can affect your family’s stability. 

Find out more about bankruptcy information and legal services from trusted Memphis bankruptcy lawyers as soon as you can. 

Client Review

“The Castle Firm, and the entire staff are just wonderful. I really needed help, and they took the time to listen to me, and help me with a Chapter 7 Bankruptcy. They are very knowledgeable. Mr. Castle, Ms. Connie, Amanda, and Mr. Prentiss are just wonderful, Service is A1 all the way, and can not be beat. The Castle Law firm make you feel welcome, and comfortable on every visit. I appreciate everything, and thanks to them, I am off to a fresh start, and free of all the stress.”
S Coleman
Client Review