Bankruptcy Lawyer Memphis Tennessee | Bankruptcy Attorney Memphis

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Bankruptcy Lawyer Memphis | Call (Your Phone Number) | Memphis Bankruptcy Attorney

Welcome to the Law Firm. Our law firm represents clients in auto accidents, bankruptcies, and divorce and family law cases.  We have three offices in Memphis, Tupelo, and Southaven, and we servie the clients throughout the entire Memphis and Northeast Mississippi areas.

Our lawyer is an experienced bankruptcy lawyer and SSDI lawyer, as well as personal injury lawyer and auto accident lawyer.  He gives every case his full attention to gain the best results possible. As a graduate of the University of Michigan Law School with more than 39 years of legal experience in civil litigation, Mayfield has the vast legal knowledge you want on your side.

SHOULD I FILE BANKRUPTCY?

The decision to file bankruptcy should not be made without weighing the pros and cons of filing. Since both federal and state laws apply in bankruptcy, an individual considering bankruptcy needs competent, experienced legal assistance. Mayfield Law Firm can assist you in making this decision by carefully explaining the law, procedures, consequences and options associated with bankruptcy.

Our bankruptcy lawyer Memphis represent individuals and business people who are unable to repay their bills and need a “FRESH START”. Chapter 13 and Chapter 7 can help these individuals and small businesses find the “Debt Relief” that they need. The person who files bankruptcy is referred to as a “DEBTOR”.

WILL CREDITORS STOP CALLING?

Bankruptcy Lawyer Memphis | Memphis Bankruptcy Attorney

Yes. All bankruptcy cases are started by the filing of a petition with the court. When a petition is filed, an Automatic Stay protects you from your creditors. That means that all harassing phone calls, collection letters, repossessions, mortgage foreclosures, garnishments, wage assignments and the like must stop immediately after the creditor receives notice of your bankruptcy.

DO I HAVE TO PAY ANY DEBTS AFTER FILING BANKRUPTCY?

Yes, in most cases. A Chapter 7 bankruptcy usually discharges most unsecured debt so you are no longer legally liable for the debt. However, in most cases, you will have certain debts that you want to keep in order to keep the property, such as a house & car.

Chapter 7 is used by individuals, including self-employed and sole pro-proctorships, to discharge or extinguish personal liability for debts including, but not necessarily limited to, credit card, medical and utility bills and other dischargeable unsecured debt.

However, child support, alimony, criminal restitution and certain taxes are normally never dischargeable in Chapter 7.

WILL BANKRUPTCY STOP A FORECLOSURE OR REPOSSESSION?

Bankruptcy Lawyer Memphis | (Your Phone Number) | Memphis Bankruptcy Attorney

Yes. An individual will usually file a Chapter 13 when they are trying to save property from being repossessed or foreclosed, such as when a home mortgage is in default or foreclosure. A Chapter 13 can establish a repayment plan for the amount in default and rein-statement of the mortgage. The same may be true for a car that is subject to being repossessed because of nonpayment.

WILL BANKRUPTCY DISCHARGE CHILD SUPPORT, STUDENT LOANS, TAXES, ETC.?

No. However, a Chapter 13 can establish a repayment plan for non-dischargeable debts, such as alimony, child support, student loans, taxes or to lower payments to creditors. When an individual or small business has assets, having a value exceeding any outstanding liens which might be liquidated in a Chapter 7 case to repay creditors, a Chapter 13 repayment plan may be established to pay the nonexempt equity to creditors during the life of a plan so as not to lose any property.

Call the Law Firm today. We have offices in Tupelo and Memphis, convenient free parking at both locations.

Memphis Zip Codes:
38018, 38103, 38104, 38105, 38106, 38107, 38108, 38109, 38111, 38112, 38114, 38115, 38116, 38117, 38118, 38119, 38122, 38126, 38127, 38128, 38131, 38132, 38141, 38152.

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Bankruptcy Lawyer Memphis | (Your Phone Number) | Memphis Bankruptcy Attorney

Are Unsecured Debts Discharged in Chapter 13, Bankruptcy Lawyer Memphis Tennessee | Bankruptcy Attorney Memphis.

Credit Card Debt Consolidation Loans May Be Your Ticket Out Of Debt

Starting this lifestyle will force you to conserve for the products that you want.
UnSecured Debt has no concrete item on the line as collateral, so it generally comes with a higher interest rate.

Bankruptcy Lawyer Memphis Tennessee | Bankruptcy Attorney Memphis, Find latest full length videos about Are Unsecured Debts Discharged in Chapter 13.

Stimulus Package – End Up Being Debt Free Totally!

Paying the price of getting a lower rating is way much better than losing your track record forever. When you are one paycheck from insolvency it is a lot easier to live by your concepts.

There are two types of financial obligation, and some extremely effective ways to eliminate them. That’s what this short article has to do with: what secured and unsecured financial obligations are, what personal bankruptcy is, and how to file to effectively release all your major financial obligations. This guide specifies crucial terms in order to make the process much easier.

Get it even with a bad credit report: If you have a bad credit report, there is a possibility that loan providers may turn you away. But with Secured Debt combination loans, the property you reveal as collateral will present as an assurance and credit business may provide you the necessary loans. However, if your credit history is bad then the terms might not be as beneficial as with a good rating.

As soon as you begin it does not take long to see the outcomes. It is kind of like starting a workout and diet plan program. Once you take the primary step of eating less and working out more, the weight begins to come off. Charge less and pay more and the debt will fall straight off. In addition, when you have achieved your objective of ending up being debt totally free you will feel the same as you do when you achieve your weight loss goal, you will feel much better and be happier.

In any financial obligation decrease program, balances with the greatest amount and at the greatest rates of interest should be in the priority list to be removed. There are different ways to get rid of these high rates of interest balances. Among the popular alternatives are: balance transfer to charge card that have low rates of interest; and you can likewise get a personal loan at low interest rate to clear off the financial obligations that charge high interest rate. The bottom line is, the accounts with huge balances and high interest rates will snowball the financial obligation quickly, so they need to be eliminated first. This is among the fastest techniques for you to work the method toward living Debt Free.

Kinds of charge account open – Credit cards are called Revolving Debt. Due to the fact that of those minimum payments that are due with no real strategy for reward, I suppose it’s. The financial obligation just keeps revolving month after month. The more revolving debt you have the lower your rating will be. However, all of these charge card may not be reported accurately. Something as simple as an incorrect credit line could be hurting you. Opportunities are you can contest these products while repairing your credit and increase your score. Credit repair work can assist tidy up these mistakes.

Here is a simple example of the effect that interest has on the price of an item. The actual expense of the purchase is $110 if you acquire a product for $100 on credit with a 10% interest rate over one year. Therefore, you have actually simply increased the cost of the product you bought by 10%. The result is that you pay excessive for the convenience of not paying for it today.

These charge card financial obligation facts are disconcerting to the average customer since the data paint an opposite picture of what our creditors are really informing us. At the end of 2009 revolving debt is anticipated to be around $990 billion. The startling part about these statistics is that America’s wealth is slowly declining while debt is increasing at a quicker rate. If excess financial obligation is something that has actually taken benefit or your financial resources, you might certify to have your debts erased.

Make today the start of something brand-new, exciting and BIG. You require to know how much extra income you can pay towards the tiniest financial obligation. I really finished with a large surplus in my checking account!

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