Mitchell & Cunningham, P.C. began in Tupelo in June 2003 and in Corinth in September 2009, with the goal of providing the best service to North Mississippi residents dealing with debt issues. We expanded our practice to include helping individuals in Tennessee in 2013. When you are in a financial crisis, experience matters.
Mitchell & Cunningham, P.C. is here to guide you through every part of the process, from presenting your best options, to standing by your side through all legal processes. We will make sure your debt is handled the best way possible.
The bankruptcy process can actually be highly beneficial to individuals, families, and business owners who have fallen on hard times. Under a Chapter 7 or Chapter 13 bankruptcy, your unsecured debts may be discharged, providing relief from the overwhelming debt that has plagued you for far too long.
Many people believe that bankruptcy will ruin your credit for the rest of your life. In truth, a bankruptcy can have a similar impact on your credit rating as the overwhelming debt that it can discharge. If you are unable to pay your bills, you are likely experiencing a dramatic decrease in your credit score. Bankruptcy can alleviate your debt and allow you to eventually rebuild your credit.
A Chapter 7 bankruptcy will likely remain in your credit report for 10 years, while a Chapter 13 bankruptcy may appear for 7-10 years. You can begin the process of rebuilding your credit even with a bankruptcy on your credit record.
While it may remain on your credit record for years to come, a bankruptcy filing puts a hard date on the end of your financial worries. Drawing out a negative or defaulted account in collections will keep a delinquency active. A bankruptcy can end the debt and mark a point in the future in which your credit will begin to improve.
The most important first step in planning your financial future after bankruptcy is to schedule a free consultation to discuss your options. During your free consultation, we will discuss the debt relief options available to your unique financial situation. You will also learn more about the impact filing bankruptcy will have on your future and your present.