Best Family Law Attorneys in Southaven, MS

CHAPTER 13: Often called a “Wage Earner” bankruptcy as it allows for the wage earner (regular income party) to restructure debts into a more affordable payment plan of up to sixty months. This type of bankruptcy is effectively a reorganization or restructuring of debts to allow the client to stop foreclosures or repossessions by curing mortgage and automobile payment delinquencies over time. In some circumstances we can even recover property that has already been recently repossessed. It’s also an effective way to manage non-dischargeable debts (those that cannot be wiped out in a chapter 7) such as child support obligations, student loans and tax obligations. So, Give me a call now to get more information or to get your plan started and get the relief you need. CHAPTER 7: This type of bankruptcy is commonly referred to as a “liquidation” bankruptcy. This name is a little deceiving as rarely are you liquidating your property due to certain exemptions that the client is entitled to under the law. However, this bankruptcy is an effective way for the client to get the relief and fresh start that they may need when they’ve gotten in over their head with unsecured loans or credit cards. It may also be useful if there has been a garnishment or repossession that is causing financial issues and inability to meet their needs financially. This type of bankruptcy has certain qualifications that must be met so call me for a free Consultation to see if it’s an option for you.