What to Expect in Your Mississippi Bankruptcy
Filing for bankruptcy is a scary step, especially if you are not familiar with the process. At the Law Office of Giles W. King, we take the time to answer our clients' questions and prepare them for each of the steps so that there are no worries or surprises.
I am an experienced bankruptcy lawyer in Southaven who has helped hundreds of people in northwest Mississippi and the Memphis, Tennessee, area get debt relief and peace of mind through bankruptcy. I will guide you every step of the way through a process that can seem intimidating.
Get a fresh start and immediate relief from creditors. Call me today at 662-298-4597 or 888-549-3902 or send me an e-mail to schedule an appointment.
The Chapter 7 and Chapter 13 Bankruptcy Process
In your free initial consultation, I will personally sit down with you to address your questions and concerns about bankruptcy. This is an informal, no-obligation session. I will walk you through a brief questionnaire about your finances (income, assets, debts, expenses, etc.) to determine (a) if you need to file for bankruptcy and, if so, (b) whether to file for Chapter 7 or Chapter 13 relief.
- I will need a picture ID and Social Security number, a recent tax return, your two most recent bank statements, pay stubs or proof of income for the last six months, copies of bills and debts that you want to be included.
- Before you file, I can give you a reliable legal opinion of what assets you will keep and what debts will be covered. If you decide to go forward, it takes me approximately a week to prepare your petition.
- You must complete an approved credit counseling course to explore your options and ensure that you understand what bankruptcy means. These courses can be taken over the Internet or by phone.
- From the day that your bankruptcy is filed (electronically), creditors must stop all collection actions, including foreclosure, repossession, wage garnishment and harassing phone calls.
- Within four to six weeks of filing, you will have to appear in Bankruptcy Court for a brief, low-key hearing with the judge or trustee who oversees your case. I will prepare you and accompany you.
- Before your discharge, you must also complete an approved financial management course to help you budget and avoid similar debt crises in the future.
- In a Chapter 7, your debts should be officially discharged in 90 to 120 days after your petition is filed. You are protected from creditors during the waiting period.
- In a Chapter 13, your monthly payments to the trustee begin 30 days after your petition is filed and continue for 36 months or 60 months, depending on your circumstances.
- If you encounter hardships during your Chapter 13 repayment period (job loss, family illness, etc.), it is possible to reduce or suspend your payments or convert your plan to a Chapter 7.
Southaven Bankruptcy Process Attorney
Bankruptcy is not always the answer, but it is an opportunity for true relief from debts and from creditors. To explore the solution that is best for you, contact my DeSoto County office today to schedule your free consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.