Bankruptcy: An Easy Path To Financial Relief
At Davis, Kessler & Davis, we know that anybody can be overwhelmed by debt. A loss of a job or an unexpected medical emergency can cause bills to pile up, until they are simply too overwhelming to bear. That is why bankruptcy exists — to give the typical American a way out and a second chance.
Chapter 7 Vs. Chapter 13 Bankruptcy
There are several kinds of bankruptcies available, but the two biggest for consumers are Chapter 7 and Chapter 13.
Chapter 7 bankruptcy is the most common and essentially eliminates most of your debt. This is the best way to get rid of credit card bills, medical bills and other sources of debt. You must fall under a certain income threshold, however, and in some instances you may have to forfeit some of your assets.
Chapter 13 bankruptcy reorganizes your debt into a 3- to 5-year payment plan, with payments you can afford. Any balance left at the end may be eliminated. This is best if you want to keep all of your assets and just need a way to catch up on payments.
You Can Keep Your House And Car
With Chapter 13, you definitely keep your house and your car. Under Chapter 7, while many think you have to give up your home and vehicle, there are some exemptions under Tennessee and federal rules that may allow you to keep these assets, with proper planning. Visit a bankruptcy attorney to learn more about your options.
Put A Stop To Creditor Harassment
The moment you file for bankruptcy, creditors are required to stop all collection efforts. This is called an automatic stay. If you are being harassed by creditors, we encourage you to take swift action. Shortly after walking out of our doors, you will find immediate relief, as you stop receiving calls from collections agencies.
Call Today For A Fresh Financial Start
Our bankruptcy lawyers are on standby, ready to help you tackle the financial challenges you are facing. We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.