Helping Individuals And Businesses Understand The Benefits Of Bankruptcy
At Gentry Arnold PLLC, we are dedicated to helping individuals, families and businesses throughout Memphis take control of their debts and achieve a fresh financial start. For many, bankruptcy can feel like a last resort, but in most cases, bankruptcy provides the most effective means for paying down and discharging debts.
Because there are numerous misconceptions attached to bankruptcy, it’s important to speak with attorneys who can give you the facts regarding the types of filings and the protections provided and develop a strategy for remaining debt-free.
Silencing Creditors And Preventing Foreclosure
Creditor calls, collection notices, foreclosure actions and wage garnishments are some of the actions creditors take to recover debts. For those feeling the effects of collection actions, our attorneys can help by outlining strategies for silencing creditors, protecting your assets and navigating the bankruptcy process:
- Chapter 7: Often referred to as liquidation, Chapter 7 bankruptcy is a relatively quick process that involves the sale of a debtor’s assets to pay down the arrearage, followed by a discharge of remaining debts.
- Chapter 13: Sometimes referred to as wage earner bankruptcy, Chapter 13 allows debtors with stable income to gradually pay off their debts over a three- to five-year period. At the end of the repayment plan, eligible debts will be discharged.
- Chapter 11: Chapter 11 is often reserved for small- to medium-size businesses struggling with significant tax problems or other debt issues. By filing for bankruptcy, a business can reorganize debts and pay back creditors through a structured reorganization plan.
If you are struggling with back taxes, stand to lose your car or home, or you are avoiding answering the phone because of harassment from creditors, it’s important to work with a lawyer who can help you protect your property. At Gentry Arnold PLLC, we take a personalized approach to resolving debt and other financial problems. We understand that bankruptcy is never a pleasant undertaking, but we have also witnessed the relief our clients experience once they achieve a fresh financial start.
Providing People With Options When Seeking Financial Relief
When you sit down with us, we will listen as you share your story. With all the facts in place, we can outline options, explain the bankruptcy process and guide you toward the most effective strategy for getting out from under your debt burden.
We are a debt relief agency. We help people file for bankruptcy under the U.S. Bankruptcy Code.