Chapter 7 Bankruptcy | Tupelo, MS | Mitchell & Cunningham, P.C. | 662-407-0408

Bankruptcy helps you focus

Filing Chapter 7 or Chapter 13 bankruptcy will allow you to focus on what's important in life, free of harassing creditors and bill collectors. Learn more about how bankruptcy might work for you by contacting Mitchell & Cunningham, P.C.


 

Tupelo, MS | Mitchell & Cunningham, P.C. | 662-407-0408

End Harassment, Foreclosure, and Repossession Today

A successful petition for either Chapter 7 or Chapter 13 bankruptcy puts an automatic stay into effect. From the moment your bankruptcy is accepted by the courts, creditors and bill collectors are prevented from contacting you via phone, e-mail or letter. Foreclosure proceedings, repossessions and garnishments are also halted under the automatic stay, allowing you to focus on your bankruptcy rather than the distractions surrounding it.

Chapter 13 Bankruptcy

Answers and Guidance

Commonly referred to as a "wage-earner" bankruptcy, Chapter 13 allows for the creation of a debt repayment plan that gives you the opportunity to catch up on your financial obligations. The repayment plan lasts between 3-5 years and is designed to fit easily into your budget. After completion of all payments, any remaining unsecured debt is discharged, allowing you to begin rebuilding your financial standing.

At the law firm of Mitchell & Cunningham, P.C., our Chapter 13 bankruptcy lawyer, Kimberly Bowling, is committed to providing informative Chapter 13 understanding and guidance to individuals, families and businesses facing overwhelming debt. We work to answer any questions you may have on the Chapter 13 process, including:

  • How does the Chapter 13 process work? We will work with you to create a repayment plan that fits into your budget. The repayment plan is then reviewed for approval by a federal bankruptcy judge.
  • Will I lose my house or my car? Chapter 13 was specifically designed to help you catch up on your debts, including your mortgage or car loan payments. These payments can often be included in your repayment plan, allowing you to retain possession while you make your Chapter 13 payments.
  • What are the costs associated with filing for Chapter 13? Surprisingly, the costs of filing for Chapter 13 are relatively minimal. Up front, you are only responsible for a set filing fee and the cost of the required credit counseling program. Any other fees can be factored into your Chapter 13 payment plan.
  • What happens if I lose my job or experience an income change? A lot can happen in 3 to 5 years. Fortunately, if you experience a major life event that makes it difficult to keep up with your Chapter 13 payments, you may be able to adjust your repayment plan. It is important, however, to contact us immediately after a change in income, divorce, or loss of job.
  • How does Chapter 13 impact foreclosure proceedings? In short, filing for Chapter 13 will put an immediate end to foreclosure proceedings. A filing will also end annoying calls from creditors and bill collectors, allowing you to focus on your future without the constant barrage of phone calls, e-mails, and letters.
  • What debts can be factored into the repayment plan? Most debts can be factored into your repayment plan.
  • How do I get started? The first step in filing your petition for Chapter 13 is to schedule a free consultation with our office. During this consultation you will be offered detailed insight into how Chapter 13 can benefit your unique financial situation and what you may be able to expect from the process going forward.

Chapter 7 Bankruptcy

An Overview

Chapter 7 bankruptcy, often referred to as "liquidation bankruptcy," offers debt relief benefits to individuals and families facing overwhelming debt related to high credit card balances, personal loans, and lines of credit. In addition to discharging unsecured debts, filing for Chapter 7 also immediately ends the harassing calls from bill collectors and threatening letters from creditors it also puts an end to foreclosure proceedings. Under the Chapter 7 process, typically all property is protected. However, certain non-exempt assets can be liquidated or sold, allowing the bankruptcy trustee to pay some of your debts. Any remaining debt is discharged.

At the law firm of Mitchell & Cunningham, P.C., our Chapter 7 bankruptcy attorney, Kimberly Bowling, is committed to providing detailed and helpful advice on Chapter 7 and how the process can impact your unique financial situation. After carefully examining your financial situation and your goals, we work to answer your many questions regarding the process.

The Chapter 7 Bankruptcy Process

Eligibility for a Chapter 7 bankruptcy filing is determined by a means test; a set of questions that examine your debts, income, and essential expenses. The test is designed to determine if you have the ability to pay your obligations. If you face overwhelming debt and do not have the income to cover it, it is very likely that you will qualify for a Chapter 7 filing.

After meeting with us for your free consultation, the next step is gathering all of the necessary documents needed to complete the bankruptcy petition. Vital documentation includes recent pay stubs, tax returns, and any account information pertaining to your debts.

At your second appointment, Kimberly Bowling will help you complete the Chapter 7 application, carefully explaining which of your assets are exempt from the process. She will  and take great care in answering questions and how it relates to your unique situation. Once the paperwork has been completed, we will file it with the courts as quickly as possible to put an end to creditor harassment and provide you peace of mind.

Once the court examines your petition for bankruptcy, a meeting of creditors will be scheduled. We will appear with you at this meeting to address any creditor disputes and to guide you through the meeting.

Bankruptcy does not allow for the discharge of student loans, certain tax obligations, or child support payments. However, most unsecured debt is dischargeable, such as check cashing debt, payday loans, credit card debt, medical debt, car loan deficiency balances, and other types of debt.

TUPELO OFFICE
112 N. Broadway Street
P.O. Box 7177
Tupelo, MS 38802

Email: kimbowling@mitchellcunningham.com

Phone: 662-407-0408

Fax: 662-407-0782

CORINTH OFFICE
512 A East Waldron Street
Corinth, MS 38834

Email: kbowling@mitchellcunningham.com

Phone: 662-286-5665

Fax: 662-286-5667

 

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