The irony of debt is that you can look like the richest person in the world but actually be very poor. Many people struggle to declare bankruptcy because of the shame involved in admitting that you can no longer afford that house, or that car, or those electronics. But bankruptcy is not shameful at all. Not only does it not have to be a big, public affair, but bankruptcy can be very empowering. Imagine the difference between secretly panicking over bills and living free of financial stress. The difference between fearing a harassing creditor’s phone call and knowing that they are not allowed to bother you again. With the advocacy of a liquidation lawyer Memphis, TN residents trust, bankruptcy can
Bankruptcy has a reputation in some circles for being expensive, but that disadvantage is often a myth. Indeed bankruptcy fees have increased since 2005, and some people find them daunting, but the dollar amount for your particular case might not look so bad once you set up a payment plan. In addition, you always have to balance out the long-term costs of not filing bankruptcy. Chapter 13 Bankruptcy Costs: In Chapter 13 debt reorganization, most if not all of the fee is included in the debt restructuring plan. After looking at your debts and unique situation with your attorney, you should end up with reasonable monthly payment that will include most if not all of the bankruptcy fee. Reasonable
By: Darrell Castle Believe it or not, bankruptcy is good for more than just the person in debt. People often have a negative view of bankruptcy and its purpose. It is NOT designed to cheat the system or relieve people who just want to constantly abuse it. It IS designed to relieve the debtor and society as a whole from the burdens of uncontrollable debt. Take Sarah’s story for example. Sarah’s a middle-class mother with two kids. She has a car note, mortgage, some credit card balances and student loans. The problem is, Sarah did what many Americans tend to do – she got a little too swipe-happy with her debit and credit cards. And she found herself in a
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. As a well respected bankruptcy law firm Memphis, TN counts on, we can help guide you through your financial difficulties.
By: Darrell Castle Do you ever wonder what God thinks about the debt you have? If you do, then you’re not alone! As a Christian bankruptcy attorney, clients ask me about that topic all the time. You may be worried you’re doing something wrong. You may be ashamed of yourself. But you don’t need to feel that way. I believe that a better Biblical understanding of debt can lead to better financial decisions. Good News for the Poor In the Bible, debt and poverty were one and the same. Only people who were very desperate took out debt. Nowadays, debt is much more common. However, people who can’t pay back their debts STILL feel desperate. In both Luke and Matthew,
How to not let debt get you down By: Darrell Castle Are you behind on medical bills? Do you owe way too much money on your credit cards? Are your wages being garnished? Are you about to lose your home or car because you’re behind on your payments? It doesn’t matter why you’re in debt, but that you ARE in debt. Not having the ability to pay your bills because you owe so much money is a stressful thing and can really bring a person down. A bankruptcy law firm Memphis, TN trusts, like the team at Darrell Castle & Associates, can help manage the best timing for your case. Is this you? Are you living paycheck to paycheck worrying
Sometimes clients or friends are concerned about the morals of filing a medical malpractice claim. They’re afraid malpractice cases are frivolous or hurt doctors and the health care industry so much that they shouldn’t be pursued. This is a reasonable question. After all, doctors do pay a lot for medical malpractice insurance, and a malpractice claim could damage their practice and cause them a lot of anguish. In understanding the right and wrong of filing medical malpractice claims, there are a few things to keep in mind: Bad cases get thrown out. In many states, you have to prove your case is legitimate through expert testimony. No one – doctors, insurance companies, judges, and juries included – like to see
Memphis home sales have risen in 2012, and house prices have increased, according to The Commercial Appeal. Sales rose 7.4% in July compared to July 2011, with a price rise of 14.1%. While the article cited offers some exciting figures for the year so far, it also admits the numbers could be a bit deceiving. After all, comparing rates to 2011 can give a sense of false hope since 2011 was a very rough year on the Memphis housing market. As bankruptcy attorneys in Memphis, we certainly see the flip side of this story in our office every day. It’s wonderful to hear good news every once in a while, but the fact is many Memphians aren’t experiencing that good
Q: When someone comes to repossess my car, is it public record? Will everyone find out about it? A: Generally, no. In Tennessee, we have a system called self help repossession that allows creditors to repo the car without a court order. Without a court order, there’s no record it happened. So there’s no way for anyone to find out except if they see it happen or figure it out when they notice your car is gone. If the court orders a repossession, it becomes public record. While not usually necessary in TN, this does sometimes happen. If the person hides the car or seems aggressive, the creditor may want or need the sheriff to tow it instead of the
Memphis area realtors report increased sales in the last couple of months. According to their records, January and February of 2012 brought almost a 50% increase in amount of homes sold, along with an increase in the costs of those houses. More Memphis homes selling at a higher price makes sense next to another local real estate statistic: in December 2011, Memphis-area foreclosures beat the national average and decreased from the same time in 2010. So clearly, many people are buying homes or keeping the ones they have. At the same time, the rate of mortgage borrowers who have gone 90 days or more without making a payment increased at the end of 2011 to 6.24%. And 9.26 percent of