Sometimes clients call our office wanting a specific type of bankruptcy. They’ve heard good things about Chapter 7, which makes sense. Chapter 7 has its advantages. But there are a lot of situations where choosing a Chapter 13 bankruptcy might be a better option for you.
Using Chapter 13 to Save Our Clients from Foreclosure
As a Memphis bankruptcy attorney, I can’t tell you how many times we’ve used Chapter 13 to keep people in their homes.
I remember one night in particular. We got a call right before closing up for the day. The caller was terrified, because they were scheduled for a foreclosure in the next couple of days. We stayed late and helped them file a Chapter 13 bankruptcy. By the next day, this client’s life had changed completely: They didn’t have to worry anymore about losing their home, and they never faced creditor harassment again.
In such dire circumstances, choosing a Chapter 13 bankruptcy can be a lifesaver.
Reasons for Choosing Chapter 13
Among all the reasons you might prefer a Chapter 13, a few stand out as the most common reasons:
- Perhaps you want to protect certain assets, like your house or car.
- Maybe you have income that allows you to pay back a portion of your debts.
- You need to stop wage garnishment and other harassment over your debts.
Perhaps the most powerful thing about a Chapter 13? It’s backed by US law. When you file Chapter 13, you have the force of our legal system on your side, helping you get a fresh start and keep what matters most.
Our New Free Report
As you can probably tell, we feel passionately about how much Chapter 13 can help people who need it. That’s why we’ve written a free report all about Chapter 13 and what it can do for you.
In The Power of a Chapter 13 Bankruptcy, attorney Darrell Castle dives into all of the ins and outs of filing under this chapter, including how it compares to Chapter 7.
We’re offering this report free to anyone who wants to learn more about choosing a Chapter 13 bankruptcy.
Get your free copy of The Power of a Chapter 13 Bankruptcy here!
And if you’d like to speak more about all of your bankruptcy options, contact us online today or give us a call at 901-327-2100.