Christley Knows Best? How Filing for Chapter 7 Bankruptcy May Be Best for You

My wife and I have the guilty pleasure of watching the reality TV series, Christley Knows Best. For readers unfamiliar with the series, the show offers an inside look at the antics of the millionaire Christley family and the family’s flamboyant father, Todd Christley. Todd claims to have made 95% of his wealth in the real estate market, lives in a 30,000 square foot home outside of Atlanta, and boasts of the family spending $300,000 a year on clothing.

Why Chapter 7 Might Work for You

Not surprisingly, Todd has experienced financial troubles like most other Americans. Todd filed for Chapter 7 bankruptcy protection in 2012 after a real estate investment deal proved unsuccessful. According to his bankruptcy court records, Todd listed $49.4 million in total debt. While very few individuals are likely to have as much debt as Todd, filing a Chapter 7 bankruptcy petition can be the right option for some individuals and families.

In a Chapter 7, a debtor discharges almost all of his unsecured debts, debts like credit card bills, medical expenses, and payday loans. In effect, these debts are wiped out and the debtor is provided with a new opportunity to reestablish his financial affairs.

Clients are often concerned about whether they will lose secured assets like their home or vehicles if they choose to file for bankruptcy. In fact, for Todd Christley, it was rumored that he would lose his home due to his bankruptcy.  For most individuals and families thinking about filing bankruptcy, losing a home is not as likely, especially if your home is “underwater”.

Every individual and family faces different circumstances. At the Bond & Botes law offices, our attorneys sit down with individuals and offer free initial consultations. From these initial meetings, our attorneys work with clients to determine if bankruptcy is a part of the solution to their financial problems.

While filing for bankruptcy may not make you the star of the next reality television series, it can eliminate some of the stress and worry in your life. If you live in Alabama, Mississippi, or Tennessee and need legal solutions for your financial problems, please contact one of our skilled attorneys.

 

Related Articles

Share This Page

Bond & Botes Law Offices

At Bond & Botes, we now offer full service bankruptcy consultation and filing over the phone or by video from the comfort and safety of your home or office. Please call 1-877-581-3396 or click here to setup your free phone or video consultation.

The lawyers at the Bond & Botes affiliated offices serve clients at offices in Anniston, Birmingham, Mobile, Montgomery, Opelika, Decatur, Huntsville, Florence, Haleyville and Gadsden, Alabama; Vicksburg, Hattiesburg and Jackson, Mississippi. Read our disclaimer here. You can view our Privacy Policy here.

Alabama Offices

Birmingham

2107 5th Avenue North
Age-Herald Building
Birmingham, Alabama 35203
Phone: (205) 802-2200


Shelby County Location
15 Southlake Lane, Ste 140
Birmingham, AL 35244
Phone: (205) 802-2200


Florence Location
121 S. Court Street
Florence, AL 35630
Phone: (256) 760-1010


Huntsville Location
225 Pratt Avenue NE
Huntsville, AL 35801
Phone: (256) 539-9899


Montgomery Location
311 Catoma Street
Montgomery, AL 36104
Phone: (334) 264-3363


Decatur Location
605 Bank Street
Decatur, AL 35601
Phone: (256) 355-2447


Haleyville Location
914 19th St.
Haleyville, AL 35565
Phone: (205) 486-3580


Gadsden Location
430-B Chestnut Street
Gadsden, AL 35901
Phone: (256) 485-0195


Opelika Location
216 South 8th Street
Opelika 36801
Phone: (334) 887-7666


Anniston Location
1302 Noble St #2C
Anniston, AL 36201
Phone: (256) 344-3559


Cullman Location
200 Second Avenue SW
Cullman, AL 35055
Phone: (256) 739-9866


Mississippi Offices

Jackson Location
5760 I-55 North, Ste 100
Jackson, MS 39211
Phone: (601) 353-5000


Hattiesburg Location
607 Corinne St, Ste B8
Hattiesburg, MS 39401
Phone: (601) 264-7200


Vicksburg Location
1212 Farmer Street
Vicksburg, MS 39180
Phone: (601) 353-5000

© 2024 by Bond & Botes Law Offices. All rights reserved. Disclaimer | Privacy Policy