How to Get Debt Help From the Bankruptcy Lawyers in Bristol TN

Often, people in heavy debt feeling like they are drowning. It can be extremely stressful to have bill collectors calling and harassing a person on a daily basis. When someone is in over their heads with debt, it is important they realize their options for getting help from the Bankruptcy Lawyers in Bristol TN. These lawyers will meet with a person and go over their financial needs to determine which type of bankruptcy will be most beneficial.

How Can the Lawyer Help?

When the debt collectors are calling non-stop and sending threatening letters, it is important individuals realize their options for bankruptcy. Meeting with the Bankruptcy Lawyers in Bristol TN will allow an individual to learn about the two types of bankruptcy they have available to them.

Chapter 13 is often referred to as the “wage earner’s” bankruptcy because a person must have a reliable income coming in each month before they can be approved. Individuals must submit a structured repayment plan that allows them to make payments towards the debt they owe. Most people are given three to five years, depending on their income and the amount of debt they owe.

There is also Chapter 7 which is a popular type of bankruptcy. Those wanting to file Chapter 7 will first need to pass mean’s testing to ensure their income is within the limits. This is the fastest type of bankruptcy and can typically be settled in as few as six months or less. Some individuals will be required to surrender their non-essential property so it can be liquidated. If there is no property to be sold, the third-party trustee has the power to absolve the debts that are owed.

How to Get Started

To get started, a person first needs to schedule a consultation meeting with the lawyer and bring in as much information as possible on the debts they owe and their financial records. The lawyer will help them determine which type of bankruptcy will be most beneficial so they can overcome their debt as quickly as possible. Contact Dean Greer and Associates today and they will be happy to schedule your appointment.