True Relief Through Bankruptcy

We know you would repay your debts if you could. We know it is stressful to have creditors harassing you and threatening legal action.

Mason Zoccola Law Firm helps individuals, families and small businesses get creditor relief and a fresh financial start. Our experienced lawyers can answer all your questions and concerns about bankruptcy. We will help you take full advantage of this important safety net, reducing your debts without sacrificing all your hard-earned assets. Bankruptcy laws were designed for the honest but unfortunate debtor.

The Benefits Of Bankruptcy

Perhaps someone in your household lost a job or had a medical crisis. Perhaps the lockdowns and recession hit your business particularly hard. Maybe you slowly got farther and farther behind, maxing out your credit cards and hoping things would turn around. Maybe you are going through a divorce and your income is about to be drastically reduced. Now you are buried in debt and in danger of losing everything.

Bankruptcy provides immediate relief and a path to get back on track. Filing for bankruptcy can:

  • Eliminate debts or spread them out over time
  • Avoid home foreclosure
  • Prevent vehicle repossession
  • Stop wage garnishment
  • End the harassing phone calls
  • Buy time for your business to bounce back

What Are The Downsides?

People worry that bankruptcy will prevent them from getting credit in the future, that they will lose all their property, or that everyone will know. Our attorneys will sit down with you to address your worries and explain the pros and cons of bankruptcy. Many of our clients do not lose any personal assets, and bankruptcy actually can help you restore your credit rating. The most common thing we hear from clients is that they have peace of mind for the first time in a long time.

The Difference Between Chapter 7 And Chapter 13 Bankruptcy

In Chapter 7 bankruptcy, all of your eligible debts are erased. In exchange, you may have to forfeit some assets. Eligibility is based on a means test (income threshold).

In Chapter 13 bankruptcy, you get instant relief from creditor actions and you do not give up any property, but you pay back part of your debts through a monthly payment to a trustee over 5 years. Chapter 13 bankruptcy can help you keep your house and car by paying arrears over time.

Chapter 11 bankruptcy is similar to Chapter 13 bankruptcy but for businesses (or high-asset individuals). The business owner negotiates to repay creditors a percentage of the debts owed, instead of folding the enterprise. A recent addition to the law, Sub-chapter V, aimed at small businesses, relaxes some of the costly requirements of Chapter 11 bankruptcy.

See our page on the bankruptcy process for more details.

We Are Here To Help You Move Forward

If you are struggling and stressed because of debt problems, Mason Zoccola Law Firm can guide you on the path to financial relief. Many of our bankruptcy clients are referred by financial advisors, CPAs and other attorneys who are familiar with our firm. Those professionals know we will provide solid legal advice and protect your best interests. Additionally, previous clients recommend us because they have found financial success through our help.

Ready for relief and peace of mind? Call our law office at (901) 523-8283 or send us an email. We serve Memphis, Shelby County and the Mid-South region.