Most people arrive thinking bankruptcy is one thing you either do or do not do. It is closer to a set of tools, and the one that fits depends on your income, what you own, and what you are trying to hold onto.
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If you are tired of creditor calls and past due notices, the question worth answering is not whether bankruptcy is embarrassing. It is whether it is the right tool for the specific problem in front of you. Jonathan Garrett will sit down with you one on one and go through it. That conversation is free.
A short case, often a matter of months, that wipes out most unsecured debt: credit cards, medical bills, personal loans, the balance left after a repossession.
A court supervised plan, usually three or five years, that lets you catch up on what you are behind on while creditors are ordered to stand down.
Tennessee foreclosures move fast and mostly without a courtroom. If a sale date is set, the calendar is the problem.
Eligibility turns on your income and the kind of debt you carry. That gets answered in a consultation, not on a website.
One chapter erases debt. Another reorganizes it so you can keep what you are behind on. Choosing wrong is the expensive mistake.
A Chapter 7 for up to ten, a Chapter 13 for seven. That is real, and for most people it still beats the alternative.
The part nobody explains
Under 11 U.S.C. § 362, the automatic stay takes effect the day your petition is filed. Collection calls, wage garnishment, a scheduled foreclosure sale, repossession, bank levies, and collection lawsuits are all ordered to halt. Not when your case ends. The day you file.
The stay is broad but not absolute. Repeat filings and child support obligations are treated differently, and a lender can ask the court for permission to proceed. Jonathan will tell you which rules apply to your case before you decide anything.
Common questions
Eligibility depends on your income and the kind of debt you carry. Chapter 7 involves comparing your household income to the Tennessee median through the means test. Chapter 13 requires income steady enough to fund a repayment plan. A free consultation is where that question actually gets answered.
Neither is better in the abstract. Chapter 7 discharges most unsecured debt quickly but does not cure arrears on a house or car. Chapter 13 lets you catch up on secured debt over three to five years but takes longer and requires steady income. The right choice depends on what you are trying to keep.
A Chapter 7 remains for up to ten years from the filing date. A Chapter 13 remains for seven years.
Related
Tell Jonathan what is happening and he will tell you which chapter fits, or whether bankruptcy is the wrong tool for your situation.