Chapter 7 Bankruptcy For A Fresh Start
Many overwhelmed debtors hope to qualify for a Chapter 7 bankruptcy with the power to wipe out most or all consumer debt. However, the U.S. government has mandated a means test to help determine which debtors are actually eligible. You must use this test to determine whether Chapter 7 bankruptcy is the right debt relief solution for you. The Law Office of Joseph S. Ozment, PLLC, in the Memphis metro area can help you through all the steps of bankruptcy, including:
First: Determine If Chapter 7 Is Right For You
Before you take the means test, however, we recommend that you discuss your overall financial picture with a debt relief attorney. Joseph S. Ozment has the experience you need to gather the information needed in a short time. With personalized insights, you will be prepared for the next step if you decide to file Chapter 7 bankruptcy: creating a list of all creditors, debts, assets and income. This law firm can help with this stage even if you are only able to pay part of your fees at the beginning.
Second: Get Ready To File, Pay Your Fees And File
Once you have compiled a detailed picture of your debts and assets, you and your bankruptcy law firm can prepare to file. You will need to pay the rest of the bankruptcy fee plus court costs at this point. Filing your Chapter 7 bankruptcy case can occur in the privacy of your attorney’s office.
Third: Experience The Benefits Of Debt Relief
Filing for bankruptcy puts into effect an automatic stay, which stops creditors from trying to collect any debt from you. The automatic stay immediately stops creditor phone calls, collection letters, wage garnishments, lawsuits, bank levies, and all other types of harassment, intimidation and scare tactics by creditors.
Fourth: Attend The Creditors’ Meeting With Your Attorney
A required meeting with a bankruptcy trustee is part of the Chapter 7 bankruptcy process. It is known as a creditors’ meeting; however, creditors almost never attend. The trustee may ask for more information. With an experienced lawyer beside you, you will likely get through this meeting with no need to return.
Finally: Wait For Your Debt Discharge And Wrap Up Loose Ends
Once a bankruptcy case is successfully completed, the consumer receives discharge information from the bankruptcy court. A discharge is a legal release from debts. Creditors are left with no legal cause to contact you or pursue debts listed in the bankruptcy documents.
Don’t Wait — Start Rebuilding Your Credit For A Better Future
Don’t wait – start rebuilding your credit for a better future. Contact us today to work with a bankruptcy attorney in Tennessee you can trust. Call Memphis Chapter 7 bankruptcy Attorney Joseph S. Ozment at 901-525-4357 or send an email through this website.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code