By: Darrell Castle
Sometimes it’s better to be patient and wait for things to play out. However, that is NOT the case when you’re behind on your bills and struggling with debt.
The sooner you deal with that debt, the better. With interest rates and other fees, the longer you wait the worse it’ll get. The hole will get deeper and it’ll be harder to get yourself out.
That’s why it’s important to speak to a local bankruptcy attorney as soon as possible!
What Bankruptcy Could Do For You
When you’re struggling with debt you just can’t pay, a bankruptcy can help you handle that debt.
There are two forms of bankruptcy we practice at Darrell Castle & Associates — Chapter 7 and Chapter 13. Both are very powerful tools that will help you get rid of your debt. And both come with their own qualifications that an experienced bankruptcy attorney can help you with.
Once your bankruptcy is complete, you have a fresh start! You have a clean slate. You have a great opportunity to begin rebuilding your finances to a better state — towards financial independence.
Programs like 7 Steps to a 720 can even teach you how to rebuild your credit score to an A+ rating after your bankruptcy.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is also known as a “straight discharge.” It’s good for your unsecured debts — or debt that’s NOT backed by collateral. Unsecured debts are debts like credit card and medical bills.
You can discharge these debts in a relatively short amount of time — a few months — without making any payments towards the debt.
You can learn more about Chapter 7 bankruptcy in my free report – The Power of Chapter 7 Bankruptcy. Download it free from my website today!
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is also known as a “debt reorganization plan.” It’s good for your secured debts — or debt that IS backed by collateral. This includes your mortgage and car payments. When you fall behind on these bills, your creditors can repossess the property.
However, by filing for Chapter 13 bankruptcy, you can lump those past-due payments and any other debt you have into a repayment plan. This will be an AFFORDABLE 3-5 repayment plan. And it’ll stop any foreclosure or car repos.
Then once the plan is complete, you’ll still have your property, your mortgage will be current, your car will be paid off and all of your other debt is wiped away.
Our Memphis Bankruptcy Lawyers Can Help
If you’re struggling with debt you can’t pay and want to know what your best options are, then our FREE consultation is perfect for you.
You’ll sit down with an attorney, talk about your finances and what you want to do. And then you’ll discuss your best options moving forward. There’s no obligation. It’s free information.
For decades, our team of attorneys has helped people in Memphis and the Mid-South get out of debt and onto a better life. We’re detailed, informative and really do care. And our clients will tell you that.
And there’s more! Do you remember the great program I mentioned above — 7 Steps to a 720? It’s a $1,000 value. But we offer that FREE for our clients.
Want a Free Bankruptcy Consultation?
Call (901) 327-2100 today to schedule your appointment or send us a message!