Bankruptcy at a Glance

The Bankruptcy Code was developed to give Americans a fresh start if they have amassed too much debt. We will assess your specific financial situation and advise you on how best to proceed.
While many people will actually qualify for both Chapter 7 and Chapter 13, it is our job to assess your unique financial situation and advise you on the benefits associated with either filing. We will work diligently to determine how bankruptcy can lead you to a brand new financial future.
Determining which bankruptcy is best for you depends on a number of factors. We have created a chart that outlines some of the key differences among the two primary types of bankruptcy.

Serving people in the Dothan, Troy, and Eufaula markets

Chapter 7 at a glance

Below are a few key characteristics of Chapter 7 bankruptcy.

Typical Scenario

Learn if Chapter 7 may be the best fit for you.

Typical Scenario

You have little property except for the basic necessities like furniture and clothing.


There are several advantages to Chapter 7 bankruptcy.


Most unsecured debts can be discharged
or completely eliminated.


There are a few drawbacks to Chapter 7 bankruptcy.


Many times your vehicle and home
are surrendered unless payments are kept current and equity position is low.
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Chapter 13 at a glance

Below are a few key characteristics of Chapter 13 bankruptcy.

Typical Scenario

Learn if Chapter 13 may be the best fit for you.

Typical Scenario

You have significant equity in a home or other property and you want to keep it.


There are many advantages to Chapter 13 bankruptcy.


You can keep most of your property
(including house and vehicle) with additional time to pay past due accounts.


There are a few drawbacks to Chapter 13 bankruptcy.


May have to pay back a portion of unsecured debts via monthly payments to the trustee for 3-5 years.
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Chapter 11 and Chapter 12

Below are a few key characteristics of these less common bankruptcies.

Chapter 11 Bankruptcy

Chapter 11 is commonly known as business bankruptcy, but it is true that both businesses and individuals can take advantage of this type of debt relief. Chapter 11 bankruptcy is the usual choice for large businesses seeking to restructure their debt, as it allows greater flexibility in which to work.
  • There are no limits on the amount of debt.
  • Allows for a longer time frame to repay debt.
Click here to learn more about Chapter 11 bankruptcy.

Chapter 12 Bankruptcy

Chapter 12 is such a specific and specialized section of the Bankruptcy Code, that not all firms have a detailed understanding of how it can help their clients. Our expertise in this area, and our 75 years combined experience, allows our clients to make the most informed decision possible.
  • Used by farmers or commercial fishermen.
  • Debt limits are significantly higher than Chapter 13.
Click here to learn more about Chapter 12 bankruptcy.

Take back control

Bankruptcy gives you the power to stop harassment and collection effots.

Stop collection calls

One of the most emotionally challenging aspects of financial trouble is the fact that collection agencies will constantly remind you that they are owed money. You might receive phone calls, letters or e-mails with increasing frequency and urgency. The most immediate benefit of a successful bankruptcy filing is the automatic stay.

Take Back Control With an Automatic Stay

An automatic stay goes into effect as soon as you file for bankruptcy. The automatic stay prevents further collection efforts and provides immediate benefits, including:

  • Harassing phone calls stop.
  • Harassing letters and e-mails stop.
  • All collection communication must cease.

After filing for bankruptcy, you no longer have to be subjected to that sort of harassing communication. Most individuals feel an immediate sense of relief as they begin regaining control over their finances.

Contact us today to stop creditor harassment

Stop collection efforts

One of the benefits of filing for Chapter 7 or Chapter 13 is the sense of relief that comes from stopping collection efforts. Constant creditor harassment only adds to the stress and humiliation that many individuals feel when they are facing a wall of insurmountable debt. The attorneys at Espy, Metcalf & Espy can explain how it is possible to stop collection efforts with bankruptcy.

As collection efforts escalate, many times a creditor will actually file a lawsuit in order to recover money. Once a judgment has been obtained, the debtor is now at the mercy of the creditor. The only way to stop this process is by filing bankruptcy.

Take Back Control With an Automatic Stay

By virtue of the automatic stay, a bankruptcy filing can put a stop to nearly all collection efforts, including:

  • Lawsuits.
  • Judicial liens, if there is already a judgment.
  • Wage or bank account garnishment.
  • Sheriff sales.
  • Levies.
  • Executions on property.
  • Repossessions.
  • Foreclosures.

In essence, filing for bankruptcy stops any collection efforts from creditors. This gives individuals a chance to regain control over their finances, and work to get out from under the cloud of debt that seems to follow them around. Do not hesitate to contact an attorney at our firm to learn more about how filing for bankruptcy can help you.

Contact us today to stop collection efforts

Save your home

At Espy, Metcalf & Espy, we understand the challenges many individuals face. The loss of a job, divorce or sudden medical emergency can put a dramatic strain on a family’s finances. It is easy for debt to spiral out of control in any situation. Most people trapped in this type of dilemma worry about their futures and losing their homes.

People think that once the foreclosure announcement has been published in the newspaper, their homes cannot be saved. This is not true. As long as the foreclosure sale has not occurred, we can act to stop it.

Stop foreclosure today

And as long as we can file bankruptcy before the house is actually sold, we can help you protect your assets. As soon as you decide that filing for bankruptcy might be an option for your future, it is best to contact an experienced lawyer to help guide you through the process. We take the time to explain the benefits of each bankruptcy option to our clients, so they can make an informed decision regarding their finances.

Contact us today to stop a foreclosure and save your home

Bankruptcy resources

Below is a list of our most recent bankruptcy resources to help you stay informed.

  • Chapter 7 bankruptcy exempt property

Exempt and Non-exempt Property Under Chapter 7 Bankruptcy

June 4th, 2015|0 Comments

People who file for bankruptcy seek protection from their creditors for the debts they have […]

  • Commercial fishing boats in water

Chapter 12 Bankruptcy: How It Works

May 29th, 2015|0 Comments

The following is an overview of the early course of a typical Chapter 12 bankruptcy […]

  • Bankruptcy means test

Common Mistakes Made on the Bankruptcy Means Test

May 24th, 2015|0 Comments

The means test is often the starting point for anyone who is filing for bankruptcy. […]

  • Bankruptcy for small business owners

Chapter 11 Bankruptcy: An Overview

May 21st, 2015|0 Comments

Chapter 11 usually makes it to the news when large corporations fall into financial distress […]

  • Bankruptcy for small business owners

Chapter 13 v. Chapter 11 Bankruptcy for Small Business Owners

May 17th, 2015|0 Comments

For a small business in financial distress, bankruptcy may be the only viable option. There […]

  • Who can file Chapter 7 bankruptcy?

Who Can File for Chapter 7 Bankruptcy?

April 28th, 2015|0 Comments

Prior to October 17, 2005, it was largely up to a bankruptcy judge to decide […]

Meet the partners

You are more than a client. We are invested in your future.

Collier H. Espy Jr.
Collier H. Espy Jr.Founding Partner
Collier grew up in an era where a man’s handshake was his promise. Collier’s decision to practice law was heavily influenced by his unwavering desire to help those in need. He believes in meeting with clients personally and charging them fairly for the services.
Cameron Metcalf
Cameron MetcalfManaging Partner
Cam just might be the hardest working guy in the legal profession. He gives the word “competition” a whole new meaning. Whether he’s on the basketball court, or in a court of law, you better believe he’s in it to win. Clients benefit from his practical approach to handling their cases.
Kaz Espy
Kaz EspySenior Partner
The only thing sharper than Kaz’s suit, is his legal mind. Although he may very well be the best dressed attorney we’ve ever met, his most impressive quality is his smart, caring, down-to-earth attitude. He has a special talent for understanding his client’s concerns and it shows.
Chris Richardson
Chris RichardsonJunior Partner
It was during his service in Afghanistan that he truly discovered his passion for helping others, while working closely with the locals to improve their daily lives. Having come from a modest background, Chris understands that even hard-working people may fall on hard times.

Client testimonials

Our clients are our most valued asset. We evaluate our performance by our clients’ satisfaction.

“I can say today that my life has turned around all for the better and I owe it all to Cam’s patience and understanding of the bankruptcy laws…”
J. T.
“I recently got my discharge letter and can’t wait to start rebuilding my credit. I would highly recommend Espy, Metcalf, and Espy…”
T. C.
“They were highly respected by the trustee I had. They’re also very responsive to questions by email, which really really helps with the stresses…”
E. G.
“Chris put me at ease from the first email we exchanged and then answered all my questions and concerns when we met in person. Highly recommend…”
R. W.
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A brighter future is just over the horizon!

With over 75 years combined experience helping others in situations like yours, we have the experience and expertise to help.
Contact us today