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Do you need a Memphis Bankruptcy Attorney?

Deciding whether or not to file for bankruptcy is a trial in itself. Figuring out which type to declare is even more difficult. This is why you should never try to go it alone and, thankfully, you don’t have to. Always ask for a lawyer’s help in navigating the waters of bankruptcy and financial salvation. Get started by filling out the form below so that the consultation will best fit your unique circumstances or call the Russell Law Office to set up an appointment. Feel free to peruse the site below for more information, but no website can match an individualized case evaluation in terms of knowing your options.

When you work with me, we’ll take a good look at your past, present and potential future financial situations. We’ll explore what could happen if bankruptcy is declared as well as what could happen if you decide against it. We’ll figure out if you need to declare bankruptcy at all and, if you do, which chapter is best for you–all in the context of an individualized bankruptcy case evaluation.
When you work with me you can relax and know that I do not judge your current or past financial decisions. My only concern is helping you to get back on your feet and regain control over your life.

Bankruptcy’s policies and procedures are explained in Title 11 of the United States Code. There are lots of different types of bankruptcies available to consumers but the two types that a lawyer deals with in a vast majority of consumer cases are Chapter 7 and Chapter 13. In Memphis, about 2/3rds of all of the bankruptcies filed are Chapter 13, but both chapters offer powerful relief.

Chapter 7 Bankruptcy or Straight Bankruptcy

Chapter 7 Bankruptcy discharges unsecured debt. This type of debt typically consists of credit card debt, medical bills and personal liabilities leftover from the foreclosure of a home or the repossession of an automobile. It offers a very powerful form relief and it is typically completed very quickly. It is my belief that Chapter 7 should be very seriously considered if it turns out to be one of your options. Chapter 13 bankruptcies, on the other hand, have a very high failure rate. When you come in for your free consultation, we’ll discuss Chapter 7 in more detail to make sure you get the full impact of just how helpful it may be for your current financial situation. The change of the means test and the inability to provide Chapter 7’s powerful relief has been a large frustration for many Bankruptcy Lawyers.

Filing for Bankruptcy

In Memphis, bankruptcy filing is all about gathering together the right information (because without it, we won’t know which options are best for you). When you work with me, we start the process with a few online forms. I’ll send you these forms in advance of our first meeting and use the information that you provide to gather together all of the relevant information for your case and put together the best options for your individual situation. During your (100% free) initial consultation with me, we will go over these options. Everything gets run through my Bestcase Bankruptcy Program, which gives us more information in a few minutes than one person can find after hours of independent research. I will also help you meet the credit counseling requirements that you need to meet before your official filing. Our initial consultation is 100% free of charge.

Chapter 13 or Wage Earner Bankruptcy

Chapter 13 Bankruptcy is sometimes the only option for people who don’t meet the means test. The means test is a formula that compares a debtor’s income to the state median income and, if a debtor’s income is above that level, they are not usually eligible for a Chapter 7 Bankruptcy. There are, however a few complicated exceptions that your Memphis Bankruptcy attorney can help you evaluate, like child support payments and business debts. Chapter 13 Bankruptcy involves putting together a payment plan that covers up to five years of a debtor’s disposable income. A predetermined formula is used to divide the payments up between your creditors. Chapter 13 allows you to catch up on things like mortgages and car loans over that five year period and should allow you to keep those properties. This opportunity to “catch up” is what has made Chapter 13 Bankruptcy the most commonly filed type of bankruptcy in Memphis. When we meet for your free  consultation, we’ll discuss the merits of a Chapter 13 bankruptcy filing. Remember: you don’t pay a penny unless you decide to file.

A lawyer can help give you financial peace of mind.

I help Memphian individuals and families obtain relief from otherwise insurmountable burdens of debt by using helping them exercise the rights provided to them under the United States Bankruptcy Code. Filing for bankruptcy, while often viewed negatively, can offer a fresh start to people who need it the most. It can even (sometimes) help you to prevent the bank from foreclosing on your home or repossessing your automobile.

You’ve probably been told over and over again that filing for bankruptcy is a terrible idea. The truth is that sometimes filing for bankruptcy is the best thing that you can do for yourself. Obviously, trying to figure out all of your options on your own is overwhelming and scary. This is why you need me. I have helped scores of clients take an objective look at their finances both current and their hopes for the future–and I won’t charge you for this meeting unless you decide to move forward with your filing. There is absolutely no risk in sitting down with me. The meeting is free, the advice is free and, without paying a penny, you’ll end up with a plan for financial salvation.

Contact me today for your free consultation!