Shelby Bankruptcy Attorney

Thoughtful & Informed Bankruptcy Representation 

At the Law Office of Kimberly A. Sheek, I know that facing overwhelming debts is a challenging and stressful time for anyone. As a bankruptcy attorney serving the Shelby area, I am committed to providing compassionate representation to each of my clients. With a deep understanding of bankruptcy laws and how a bankruptcy filing can impact individuals and their families, I prioritize honesty and integrity. My goal is to help you make informed decisions about your financial future, including whether bankruptcy is the right answer for you. 

You don't have to go through this alone. To learn more about your bankruptcy options, call my firm at (704) 842-9776 or message me online.

Deciding Between Chapter 7 and Chapter 13 Bankruptcy

A pivotal decision in bankruptcy is whether to file under Chapter 7 or Chapter 13. These are different chapters of the Bankruptcy Code and have distinct provisions. Determining which chapter to file under often involves a "means test," which considers your income, expenses, and family size to ascertain your ability to repay debts. 

Navigating these options can be complex and stressful. The guidance of a seasoned bankruptcy attorney can be invaluable during this process, helping you understand the implications of your decisions and guiding you toward the most beneficial choice for your unique financial circumstances. 

The primary differences between Chapter 7 and Chapter 13 bankruptcy is as follows: 

• Chapter 7 Bankruptcy is also known as liquidation bankruptcy. It allows you to discharge unsecured debts like credit card debt or medical bills. However, you may have to sell some of your assets to repay your creditors.
• Chapter 13 Bankruptcy is a reorganization bankruptcy for individuals. Instead of selling off assets, you create a three- to five-year repayment plan to settle your debts. This option may be more suitable for those with stable incomes who can afford the repayment plan. 

Determining which chapter to file under often involves a "means test," which considers your income, expenses, and family size to ascertain your ability to repay debts. 

The Benefits of Bankruptcy

Bankruptcy can often seem daunting, yet it is a viable option when debts become unmanageable and other solutions have been explored or exhausted. It can be considered when you're struggling to keep up with multiple debt repayments or when facing legal action from creditors. It can also be an option for those seeking a fresh start from an untenable financial situation.

Potential benefits of filing for bankruptcy can include:

• Debt elimination: Depending on the chapter you file under, bankruptcy may discharge many unsecured debts.
• Automatic stay: Bankruptcy filing can stop debt collection activities, including harassment from creditors and collection agencies.
• Protection of assets: In some cases, bankruptcy can help protect your assets from being seized.
• A new financial start: Bankruptcy can offer a fresh start by allowing you to restructure your debts, potentially making them more manageable.
• Improved mental health: By alleviating the stress of overwhelming debt, bankruptcy can lead to improved mental health.

Complex Bankruptcy Filings and Adversary Proceedings

An adversary proceeding in bankruptcy is essentially a lawsuit within the bankruptcy case itself. It is a separate case with its own case number, but it is tied to the overall bankruptcy case. This type of proceeding may be initiated by the debtor, a creditor, or the bankruptcy trustee. Adversary proceedings are typically filed in complex situations over matters such as challenging the dischargeability of certain debts, objecting to the discharge of all debts, or alleging certain types of fraud or misconduct.

Handling a bankruptcy filing can be complex, especially when adversary proceedings come into play. As an experienced bankruptcy attorney, I am equipped to help clients navigate even these intricate scenarios with confidence and clarity. No matter how complex your situation may be, you can count on the Law Office of Kimberly A. Sheek to provide you with informed, dedicated representation.

To work with a Shelby bankruptcy attorney who truly cares about the outcome of your case, send me a message online or call (704) 842-9776.