Liquidation Lawyer Memphis TN
Today, a majority of people will have some kind of debt issues. This may be a result of increased interest rates, job loss, divorce, an accident, student loans, or any other financial-related strain. Regardless of why you have gotten into debt, if you find yourself unable to pay for it and would like help, you should call a liquidation Lawyer in Memphis TN.
Darrell Castle & Associates has been helping men and women get out of debt for decades. We understand how emotionally trying debt can be and would like to offer you a case review. As a liquidation lawyer in Memphis, TN, we will let you know what your best options may be to resolve your debt. Sometimes this will include filing for bankruptcy; however, it is often possible to find a solution without doing so.
Filing for Bankruptcy in Memphis, Tennessee
When people hear the word bankruptcy, they might associated it with a lot of negative outcomes and situations. What you should understand is that it’s actually not always negative. Bankruptcy won’t cause you to lose your job; it won’t stay on you credit report for life, and it will not impede your ability to get loans in the future. As a bankruptcy lawyer Memphis, TN might tell you, bankruptcy can actually provide you with a fresh beginning to your financial struggles.
If you are in a copious amount of debt, credit collectors are harassing you, or you are being threatened with a lawsuit, you should call liquidation lawyer in Memphis, TN for further advice. The filing process is complicated and takes time. It will almost certainly involve the Federal Courts rather than your local county court, and navigating this area of the law should be left to an experienced Memphis bankruptcy lawyer.
You might be thinking, “How can I afford a bankruptcy lawyer if I cannot even pay my debt?” This is a common concern, but rest assured as a leading bankruptcy lawyer, we at Darrell Castle & Associates can work with you to understand how your legal costs can be covered. Thousands of people before you, in all types of debts, have hired a bankruptcy lawyer, and you can too! Please don’t feel discouraged about your ability to live an enjoyable life because you’re in debt. There are solutions that you may not know about. To find out more, call Darrell Castle & Associates.
Solutions for People in Debt
Although there may exist similarities in bankruptcy cases; no two are exactly alike. This means that there is not a one size fits all approach to every case. A lawyer will need to understand your own circumstances and goals before a recommendation can be made. In general, as an individual in debt, the two options available will be:
Chapter 7 Bankruptcy
This type of bankruptcy is also known as liquidation bankruptcy. The process will require you to inventory your non-exempt assets and have them valued. After they will be sold and the money garnered from the sale must be used to pay off your debt.
Chapter 13 Bankruptcy
Also known as reorganization bankruptcy, this requires you to develop a strategic, practical plan that readjusts your debts. Usually, all debt is consolidated into one payment which is then paid to the said creditors. A judge must approve your plan before it can be enacted upon.
Both procedures may sound easier than they actually are; however, with the advocacy of a liquidation lawyer in Memphis, TN, they can usually be completed within 3-6 months from the date of filing.
Call A Bankruptcy Lawyer Today
It is common for a person to think that they have to file for bankruptcy when actually there are better alternatives; such as, debt negotiation, consolidation loans, and loan adjustments. To learn more, please call a liquidation lawyer in Memphis, TN, such as one from Darrell Castle & Associates.