Mounting debt can wreak havoc on a person’s peace of mind. When someone is facing too much debt, they have the option of seeking help from a Chapter 7 Bankruptcy Attorney in Bristol TN. Chapter 7 is a bankruptcy that allows individuals to quickly overcome the debts they owe. It is important individuals are prepared to know what to expect from the process.
What to Expect From the Process
Filing for Chapter 7 is a fairly straightforward process that is made easier when hiring a Chapter 7 Bankruptcy Attorney in Bristol TN. Before the individual can be approved for Chapter 7, they must first pass mean’s testing. This testing is responsible for measuring the individual’s income against the median income for Tennessee. As long as the individual’s income is not greater than the median, they will be approved.
In a Chapter 7 bankruptcy case, the individual’s assets will be scrutinized to determine if there are any owned non-essential assets. Non-essential assets can be sold to pay off the debts the individual owes. Many people do not own non-essential assets so the third-party trustee placed over the case ends up being able to absolve many of the debts.
Chapter 7 typically proceeds quickly and is settled in six months or less. Once the attorney is hired, they will take over all the steps involved in pursuing bankruptcy. The goal of the attorney will be to settle the debt as quickly as possible so the stress of the client will be eliminated.
How to Get Started
To get started on the process, individuals first need to schedule a consultation appointment so they can learn if they are a good candidate for bankruptcy. If the individual meets the demands of mean’s testing, they will be approved.
Those who are facing too much debt should find more information now. With help from the attorney, the process of seeking a fair bankruptcy outcome is possible. Call the office today if you would like to schedule an appointment. Allow them to give you the information and help you need so you can settle your debt as quickly as possible.
