Chattanooga Bankruptcy Attorneys Clark & Washington Discuss 5 Benefits of Filing for Bankruptcy If You Qualify

    CHATTANOOGA, TN, April 24, 2015 /24-7PressRelease/ -- The bankruptcy attorneys in Chattanooga, Clark & Washington, emphasize the importance of filing for Chapter 7 or Chapter 13 bankruptcy. While certainly not anyone's first choice, doing this is oftentimes in a person's best interest from a financial standpoint. It is important to keep in mind that not everyone who files for bankruptcy is approved as there are certain conditions that must be met before the court will authorize the petition. In the event that you do get approved, you will likely soon realize the advantages filing for bankruptcy has to offer.

Benefits of Filing for Chattanooga Bankruptcy

When faced with having your home foreclosed on or your wage's garnished for unpaid medical bills, the choice becomes quite clear. In most states, including Tennessee, individuals who file for Chapter 7 or 13 bankruptcy are allowed to keep their homes despite the amount of debt they may have accrued. 'This debt is exempt from any possible liquidation so long as its equity stake is within a certain amount. The only exception is if the homeowner owns more equity in the property than the state's mandated threshold.

Another good thing about filing for bankruptcy in Chattanooga is the fact that none of your creditors will be allowed to call you anymore. Once the bankruptcy is in motion, they are legally restricted from doing so. If a creditor does attempt to violate the automatic stay period, they could incur severe penalties from the court. It goes without saying that the most obvious benefit of bankruptcy is its ability to discharge your debts in full. There are a few differences between 7 and 13, but each has the same end result.

Bankruptcy filings are a private matter and are never disclosed to the public, which means no one has to know you experienced a difficult financial setback. Consult with a bankruptcy attorney in Chattanooga or visit http://www.chattanooga-bankruptcy-attorney.com to learn more about how bankruptcy can give you a fresh start and a clean financial slate.

About Clark & Washington:

Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the Southeast. They have locations in Georgia, Florida and Tennessee. Clark & Washington specializes in personal Chapter 7 and 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.

For more information, visit http://www.chattanooga-bankruptcy-attorney.com.

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