Bankruptcy Lawyers in Memphis TN
It’s not easy to know where to start when researching bankruptcy lawyers. Do you ask questions or do you keep them to yourself? It can be difficult to know what information will be helpful and which might be offensive or a waste of time.
People facing bankruptcy often have a lot of questions about what it means to hire a bankruptcy lawyers Memphis TN. Here are some of the most common questions, along with their answers:
When Should I Contact a Bankruptcy Lawyer?
The moment you realize that your financial situation is becoming unmanageable is when you should contact a lawyer. When you are struggling to pay for everyday expenses like food and gas, it may be time to consider filing for bankruptcy. It’s also important to remember that there are different types of bankruptcy available, so experienced bankruptcy lawyers in Memphis TN from Darrell Castle & Associates will help you determine which option is best for your situation.
What Is a Bankruptcy Lawyer?
A bankruptcy lawyer is a lawyer who specializes in bankruptcy cases. He or she helps clients file for debt relief under the U.S. Bankruptcy Code, which allows them to either partially or entirely discharge their debts.
Bankruptcy lawyers often specialize in specific areas of bankruptcy law and are experienced in advising clients about whether bankruptcy is the best option for them, as well as how to complete the complex paperwork required to file for bankruptcy.
What Are The Different Types Of Bankruptcy?
There are six different chapters of bankruptcy: Chapter 7, Chapter 9, Chapter 12, Chapter 13, and Chapter 15. Each chapter has different provisions for filing bankruptcy.
Bankruptcy law is a complicated area of law that requires specialized training, experience, and knowledge in order to fully understand it. If you are considering filing for bankruptcy, it is critical that you consult with an experienced bankruptcy lawyer in Memphis TN who can advise you on the best options available to you and help you through the process itself.
How much will it cost to hire a bankruptcy lawyer?
This is a common question, and the answer will be different depending on the attorney and the complexity of your case. Many bankruptcy lawyers in Memphis, TN offer free consultations, so you can meet with them and get an idea of how they might charge. Some attorneys charge a flat fee for certain types of bankruptcies, while others will charge an hourly rate.
What Type of Bankruptcy Should I File?
Chapter 7 or Chapter 13? The answer depends on your total debts and income. In a Chapter 7 bankruptcy, you will be able to discharge most of your debts without having to repay them. However, if you have a large amount of income, you may not qualify for a Chapter 7.
How long will my bankruptcy take?
This is another question that varies depending on many factors, including which chapter you file, the complexity of your situation, whether you are filing jointly or individually, and more. There is no single answer that applies to everyone. Ask your bankruptcy lawyer in Memphis TN from Darrell Castle & Associates what he or she thinks your case will take.