Memphis Bankruptcy

A Word on Consumer Bankruptcy

Too often people in very real need of relief fail to obtain, or even seek, the help available.  There is no doubt that in our society, the word bankruptcy comes with a negative connotation.  Bankruptcy has grown to have a bad social stigma attached to it, and is associated with failure.  

Every day people come into my office, after years of dealing with unrelenting creditors, mortgage companies, and being suffocated by debt, simply because they were too embarrassed to seek the help they were afforded at the outset.  And many times it is their families that suffer the most.

Bankruptcy is a Federal Law, rooted in the United States Constitution, created to provide consumers with a fresh start.  Chapter 7 Bankruptcy and Chapter 13 Bankruptcy were created to allow consumers to either eliminate or restructure their debts, in order to rehabilitate their financial lives and get back on track.

Call Today to see how Bankruptcy can help you:

• Stop Harassing Phone Calls
• Stop Foreclosures
• Stop Lawsuits
• Stop Garnishments
• Keep your Home
• Keep your Retirement
• Receive a Fresh Start

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Chapter 7 Bankruptcy - Liquidation

• Often referred to as a "Straight Bankruptcy"
• Allows you to eliminate your Unsecured Debts
• Required to qualify under Means Testing
• Allowed to Keep your Home provided you are current on payments
• Allowed to Keep your Car provided you are current on payments
• Receive a Discharge in as little as 4-6 months

Chapter 13 Bankruptcy - Wage Earner

• Often referred to as a "Wage Earner Bankruptcy"
• Allows you to catch up on past due Mortgage Payments over the course of 3-5 years *
• Allows you to lower your car payments *
• Allows you to pay back a fraction of your unsecured debts interest free *

* In most cases

Chapter 7 Process

• Call (901-848-2549) or E-mail ([email protected]) our office to receive the necessary documentation and schedule a Free Consultation to discuss with Mr. Byrd your situation and the options that are best for you and your family.
• Provide three (3) years of tax returns, six (6) months of pay history, and other required documentation.
• Complete your "Certificate of Credit Counseling".  This is required in order to file your Bankruptcy Petition.  For more information contact us at 901-848-2549.  Click Here for a list of providers.
• Within 24 Hours of providing all documentation & fees, review and sign your prepared Petition, at which time it will be filed with the Court.
• 3-4 weeks later, attend the "First Meeting of Creditors" with Mr. Byrd.
• Complete your "Course in Financial Management" and return it to Mr. Byrd.
• Receive a discharge 3-6 months from filing.

Chapter 13 Process

• Call (901-848-2549) or E-mail ([email protected]) our office to receive the necessary documentation and schedule a Free Consultation to discuss with Mr. Byrd your situation and the options that are best for you and your family.
• Provide three (3) years of tax returns, six (6) months of pay history, and other required documentation.
  
• Complete your "Certificate of Credit Counseling".  This is required in order to file your Bankruptcy Petition.  For more information contact us at 901-848-2549.  Click Here for a list of providers.
  
• Within 24 Hours of providing all documentation & fees, review and sign your prepared Petition and Chapter 13 Plan, at which time it will be filed with the Court.
  
• 3-4 weeks after filing, attend the "First Meeting of Creditors" with Mr. Byrd.
• 6-8 weeks after filing, attend the "Confirmation Hearing" with Mr. Byrd.
• The Court will deduct from your wages your required Plan Payments for 3-5 years, at which point you will receive a discharge.