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Local:423-954-7180
Local:423-954-7180

Chapter 7 may be the key for dealing with overwhelming debt

Filing for Chapter 7 bankruptcy is an honest way for people who are facing overwhelming debt to regain control of their finances and start over with a clean financial slate. After all, even the most responsible individuals in Tennessee could find themselves facing a financial crisis. Perhaps there was a job loss leading to a loss of income, a medical emergency leading to steep hospital bills or any other series of circumstances that could ultimately result in financial ruin, if the right steps are not taken.

When a person files for Chapter 7 bankruptcy, they are able to eliminate much of their unsecured debt, giving them the stability needed to move forward financially. While a Chapter 7 bankruptcy may result in the liquidation in some of a debtor's assets, there are often exemptions that protect a debtor's property from the liquidation process. This can make a Chapter 7 bankruptcy an attractive option for some who are simply unable to meet their monthly financial obligations.

However, those who are considering filing for Chapter 7 bankruptcy may first want to seek legal advice. An attorney can assess their client's case to determine what property can be exempt from liquidation. An attorney can also help debtors understand the bankruptcy process and how it will affect their lives.

In Tennessee, professionals at the law firm of Kenneth C. Rannick, P.C., have helped area residents get rid of debt since 1988. Having an experienced attorney during the bankruptcy process can help ensure that a fair and appropriate result is reached. Bankruptcy is the safety net that can save people from financial ruin. It can help people deal with their debts in a way that gives them the second chance they need to start over financially.

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Kenneth C. Rannick, P.C.
4416 Brainerd Road
Chattanooga, TN 37411

Phone: 423-954-7180
Phone: 423-624-4002
Fax: 423-624-0509
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