Chapter 7 bankruptcy
Filing for chapter 7 bankruptcy is a great way to get rid of just about any unsecured debt. This is often the best option for people who do not own a home, do not have other considerable assets, and have a limited income because chapter 7 often requires people to turn over their property so that it can be sold off to repay part of their debt. You may only file for a chapter 7 bankruptcy once every 7 years, so it should be done at the right time to benefit you the most.
Chapter 13 bankruptcy
The benefit of filing for a chapter 13 bankruptcy is that you will get to keep assets such as your house, your car, and others. However, you must qualify for chapter 13 by passing the means test. Schedule a consultation with one of our Kingsport Bankruptcy Attorney to find out more.
One of the most common questions that people have about filing for bankruptcy is whether they will lose their property or not. At The Pope Firm, we are Kingsport Bankruptcy Attorney who want you to know that filing for bankruptcy is a great option for people who have gotten themselves in over their heads in debt and want a second chance. We understand when our clients are concerned about having to give up property such as their homes, cars, and others. You will be happy to learn that you do not necessarily have to give up valuable assets when you seek debt relief by filing for bankruptcy. If your business’ debts have gotten out of hand, our Small Business Bankruptcy Attorney will be happy to help you find the right solution. However, the most common type of bankruptcy is by individuals who either file under chapter 7 or chapter 13, and you do not necessarily have to lose property in either of these given certain conditions and possible exemptions; although chapter 7 is often referred to as “liquidation bankruptcy” precisely because assets can be sold off in order to pay for part of the debt in question when someone files under this chapter. Having experienced attorneys on your side will make a huge difference when it comes to the best possible outcome for you.
Some people go so far as to think that filing for bankruptcy will leave them out in the street with absolutely nothing, but that is not what bankruptcy is meant to do. Our Kingsport Bankruptcy Attorneys will be glad to take a good look at your case and do everything that can be legally done to save your property while getting you the best possible bankruptcy outcome to get you the debt relief that you need.
Bankruptcy can be a way out of a financial crisis
If you have been looking for a Kingsport Bankruptcy Attorney on the Internet, we want you to know that you can stop looking now because you just found us! At The Pope Firm, we realize that people tend to have negative misconceptions about bankruptcy such as the belief that they will lose absolutely everything and might even end up living on the street; of course, that is far from the truth. In fact, bankruptcy can be seen as the light at the end of the tunnel because it offers people and businesses that are facing a financial crisis a fresh start while either getting rid of their debts altogether or providing them with a reorganized way to deal with that debt effectively. Perhaps filing for bankruptcy has crossed your mind in the past but did not pursue it because you thought that you might lose your house, car, or other assets such as a business, but, as any small business bankruptcy attorney will assert, it does not have to be that way depending on the facts and circumstances of the case.
If it is your business that is facing a financial crisis, our business reorganization bankruptcy lawyers will be able to assist you with filing for Chapter 11 bankruptcy on your behalf. However, for most individuals, chapter 7 and chapter 13 are the right options; which of the two is most suitable for you depends on various factors such as whether you have a steady income or not. At The Pope Firm, we believe that our clients deserve the best possible legal representation that we can provide them, ensuring that you are making the right choice when you hire us to help you file for bankruptcy.
The Pope Firm
1880 N Eastman Road Suite 120, Kingsport, TN 37664