When To Hire A Chapter 7 Attorney in Murfreesboro, TN

One of the biggest questions that people have initially when they are preparing to file bankruptcy is whether or not they are going to need to hire a lawyer. Legally, there are not any laws that require a person to hire a lawyer in order to file bankruptcy. If you are going to hire a bankruptcy lawyer, you want to make sure you hire the right one. Hiring the right bankruptcy lawyer is about more than looking at their experience and years in practice. It is about whether they are a Chapter 13 or Chapter 7 Attorney in Murfreesboro, TN. Obviously, you would need to determine what kind of bankruptcy you are filing before you would know whether a Chapter 13 or Chapter 7 Attorney in Murfreesboro, TN is the right attorney for you to be hiring.

What Is Chapter 7 Bankruptcy?
Chapter 7 Bankruptcy is the type of bankruptcy that everyone wants to file. This is because it is the type of bankruptcy that is going to wipe your credit history clean. The only downside to Chapter 7 bankruptcy is that if you have any valuable property, it is very possible that it will be seized and liquidated in order to give your creditors some of the money you owe them. The only debt that Chapter 7 cannot touch would be any debt that you secured with some form of collateral.

What Is Chapter 13 Bankruptcy?
Chapter 13 bankruptcy is usually someone’s second option when it comes to filing bankruptcy. This is because it does nothing in terms of wiping your credit history clean. It just puts you on a repayment plan for the next three to five years so you can pay off all of your debts without getting behind on any of your bills. Chapter 13 bankruptcy ends up being for people who make too much money to qualify for Chapter 7.

You should keep in mind that even if you file bankruptcy and get your credit wiped clean the fact that you filed bankruptcy will still show up on your record. This is not going to hinder your ability to get a credit card, but it may hinder your ability to get other things such as loans.

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