Nashville Attorneys Clark & Washington Break Down Bankruptcy in a Step-by-Step Guide

    NASHVILLE, TN, May 20, 2015 /24-7PressRelease/ -- The experienced Nashville bankruptcy attorneys at Clark & Washington know the ins and outs of bankruptcy filing from their many years of experience in this complex legal field. According to them, the first step in any bankruptcy filing is the petition. This is a complex document usually put together by the lawyer from information supplied by the petitioner. Among other items, it contains a detailed characterization of the debts that the petitioner is asking to be discharged through the bankruptcy filing.

Once the case is filed, an automatic stay becomes immediately effective. This prevents creditors from taking any action against the debtor (such as filing a lawsuit) to collect on the debts that are owed to them. The automatic stay is in effect until after the conclusion of the bankruptcy case.

A meeting of creditors follows about a month to six weeks after the filing. It is chaired by the bankruptcy trustee and usually consists of basic questions that are asked of the petitioner and any creditors who are present. If there are no major objections or issues raised, this is the end of the bankruptcy process, except for the notice of discharge. This usually follows after about six weeks for a Chapter 7 filing. For a Chapter 13 filing, you will receive a notice of confirmation of the plan after about an equal amount of time, and you can begin making payments.

Filing for bankruptcy in Nashville will not be a stressful and anxiety-laden experience if you have the expertise of the bankruptcy lawyers of Clark & Washington working on your behalf. Get your financial life back on track with their expedient and professional assistance.

To learn more, go to http://www.bankruptcyattorneynashville.com.

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 seven and 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.

For more information, visit http://www.bankruptcyattorneynashville.com.

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