By: Darrell Castle

You CAN keep your home if you file for Chapter 7 bankruptcy, but ONLY if you’re current on your mortgage, and ONLY if your equity doesn’t exceed state exemptions.

If you have debt you just can’t pay and you’re wanting to get rid of it and gain a fresh start, then a Chapter 7 bankruptcy may be right for you depending on what bills you owe.

If you’re behind on your mortgage but want to keep your home, then a Chapter 7 bankruptcy is NOT right for you. But by filing Chapter 13, you can lump your mortgage arrearage (past due amount) and other debt into an affordable repayment plan and pay it back over a longer period of time. This will protect your home from foreclosure.

My best advice for you if you’re considering filing for bankruptcy is to contact an experienced bankruptcy attorney and schedule a consultation. An experienced attorney will sit you down, look at your bills and income and explain which chapter is best for you. When you call our bankruptcy law firm Memphis, TN families place their trust in, our knowledgeable lawyers can explain to you the bankruptcy process and answer any questions you might have.

Each chapter comes with it’s own qualifications and benefits and you need an attorney to help you make the best decision for your situation. You need an attorney you can trust – one who’ll walk and talk you through every step of the process.

Darrell Castle & Associates has received multiple Client Distinction Awards from Martindale-Hubbel for client satisfaction, so I can assure you that you’re in good hands here.

We not only want to help you get out of debt through a bankruptcy, but we also want to provide you with the tools to succeed after.

That’s why we proudly use Dave Ramsey’s Debtor Education course for our clients – a very beneficial and entertaining video course that will provide you with the knowledge and tools to succeed after a bankruptcy.

If you’re considering filing for bankruptcy or if you have any questions, call us at (901) 327-2100 to schedule a free consultation or fill out one of the contact forms on this page to have one of our associates contact you.