IN BANKRUPTCY & CONSUMER RIGHTS LAW
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Bankruptcy Lawyer - Knoxville, TN
Knox County Bankruptcy Attorney
Attorney Brent S. Snyder is a consumer bankruptcy law lawyer dedicated to representing individuals and small businesses in Chapter 7 bankruptcy. We do not represent creditors. Our mission is to help you and your family get to that place in life where you are free to prioritize your children, your significant other and saving for the future without the stress and hardship of overwhelming and relationship destroying debt.
For many people, when faced with creditor harassment, wage garnishment, vehicle repossession, or a foreclosure, etc., filing for relief under Federal Bankruptcy Law is the best solution. Contrary to what you may have heard, filing for bankruptcy allows many people to eliminate their debt, keep their homes and cars, and start over with a clean slate. There’s a thin line between creditor & predator. Don’t believe everything that you have been told.
We understand that sometimes life can be harsh, and that bad things can happen to good people. Even the most financially responsible people who have always had good credit ratings can find themselves in trouble and need bankruptcy protection.
This firm is a federally designated debt relief agency pursuant to the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA).
We help people file for Bankruptcy relief under the Bankruptcy Code.
Chapter 7 Bankruptcy Attorney
A Chapter 7 bankruptcy can be thought of as the “classic” or “traditional” form of bankruptcy where an individual or a married couple filing jointly, asks the federal bankruptcy court to issue a final court order permanently enjoining his/her/their creditors from attempting to collect the debt that is owed. The “Order of Discharge” is the ultimate goal in both a Chapter 7 and a Chapter 13 bankruptcy case; terminating lawsuits, wage garnishments, accruing interest, late fees and over limit fees.
A Chapter 7 bankruptcy is usually completed in 90 to 100 days. A series of documents collectively referred to as a “petition” that contain sworn statements and schedules of assets, income, expenses and debt is filed with the court. You are allowed to keep a generous but limited amount of your assets in order to facilitate your “fresh start.” In most cases, you can keep your home, your cars, your personal belongings, your retirement accounts, the clothes on your back and the food in your refrigerator. If the value of your assets exceed the statutory limit you may be required to surrender some of those assets to earn a discharge of your debt, or at your option, pay an equivalent value into a chapter 13 bankruptcy plan.
We Can Help You With:
Credit Card Debt
Medical Bill Debt
We Can Help You Understand
What is Chapter 7 bankruptcy? Chapter 7 bankruptcy, also known as liquidation bankruptcy, is a form of bankruptcy that allows debtors to discharge most of their unsecured debts. The bankruptcy court may sell non-exempt assets to repay creditors, but many individuals and businesses do not have significant assets to liquidate.
Who is eligible for Chapter 7 bankruptcy? To qualify for a Chapter 7 bankruptcy, individuals or businesses must meet certain criteria. Please contact attorney Brent S. Snyder to learn more.
What debts can be discharged in Chapter 7 bankruptcy? Chapter 7 bankruptcy can discharge most unsecured debts, including credit card debt, medical bills, personal loans, and certain types of taxes. However, some debts cannot be discharged, such as child support, alimony, student loans (in most cases), and certain tax obligations.
Will I lose all my property if I file for Chapter 7 bankruptcy? While Chapter 7 bankruptcy involves the potential liquidation of assets, most debtors can take advantage of exemptions to protect certain property. Exemptions vary by state, but they typically cover essential items like your primary residence, vehicle, clothing, and necessary household goods.
How does Chapter 7 bankruptcy affect my credit? Filing for Chapter 7 bankruptcy will have a significant impact on your credit score and credit history. A bankruptcy filing can remain on your credit report for up to ten years, making it more challenging to obtain new credit or loans. However, as time passes and you establish responsible financial habits, you can rebuild your credit over time.
Can I file for Chapter 7 bankruptcy more than once? There are time restrictions on how frequently you can file for Chapter 7 bankruptcy. If you have received a Chapter 7 discharge before, you must wait eight years from the date of your previous filing before you can file for Chapter 7 bankruptcy again and receive another discharge.
Will all my debts be discharged in Chapter 7 bankruptcy? While Chapter 7 bankruptcy can eliminate most unsecured debts, certain obligations may not be dischargeable. These may include recent taxes, government fines, penalties, and debts resulting from fraud or malicious acts.
Contact a Knoxville Bankruptcy Lawyer
Contact bankruptcy attorney Brent S. Snyder today for a FREE CONSULTATION - let us help you figure out your best next steps. The sooner you have a plan of action, the better your chances of taking the correct steps to get the end result that you want.