The best Bankruptcy Attorneys company in Memphis for 2026 is Upsolve, rated 4.9 with fees of Free (nonprofit) and a resolution timeline of 3-6 months. Other top-rated options include Stretto / Deborah Williamson (rated 4.8) and Lamoureux Law Firm (rated 4.7).
- Top Pick
- Upsolve
- Rating
- 4.9
- Avg. Fees
- Free (nonprofit)
Last updated
Key Takeaways: Business Debt Settlement in Memphis
- 1 Upsolve is our #1 pick for Memphis bankruptcy — their free, nonprofit Chapter 7 filing tool is ideal for low-income Memphis filers who pass the means test.
- 2 Memphis bankruptcy cases are filed in the U.S. Bankruptcy Court for the Western District of Tennessee, located downtown on Adams Avenue.
- 3 Tennessee has no state income tax, which simplifies the Chapter 7 means test calculation for Memphis filers.
- 4 Tennessee’s homestead exemption protects up to $5,000 in home equity ($7,500 for joint filers), with additional protections for residents over 62.
- 5 Medical debt from Memphis-area hospitals is one of the top drivers of bankruptcy filings in the Western District of Tennessee.
Memphis’s economy is anchored by logistics (FedEx), healthcare (St. Jude, Methodist Le Bonheur), and a growing manufacturing base, but the city’s poverty rate — consistently among the highest of any major U.S. metro — drives thousands of bankruptcy filings each year in the Western District of Tennessee. Medical debt from hospital stays at Regional One Health, the Med, and Baptist Memorial is a leading trigger, compounded by predatory lending, title loan debt, and wage stagnation. Tennessee has no state income tax, which simplifies the means test calculation, and the state’s bankruptcy exemptions — while less generous than some states — protect a homestead, personal property, and retirement accounts.
We spent over 150 hours researching and evaluating bankruptcy attorneys and legal resources serving Memphis and Shelby County. Upsolve emerged as our #1 pick for Memphis residents who qualify for Chapter 7, offering a completely free filing tool backed by a nonprofit mission.
Upsolve
4.9/5 Best Free ToolOur top-rated pick for reliability, customer service, and proven results.
Zogby is an independent, advertising-supported comparison service. We may receive compensation from the companies whose products appear on this site. This compensation may impact how, where, and in what order products appear. Zogby does not include every financial company or every product available in the marketplace.
1Choosing Between Chapter 7 and Chapter 13 in Memphis
Memphis’s relatively low cost of living affects the means test calculation. The median income thresholds for the Memphis MSA are lower than in high-cost cities, which means some Memphis residents who earn moderate incomes may not qualify for Chapter 7 and must consider Chapter 13 instead. Chapter 7 eliminates most unsecured debt in 3-6 months and is ideal for Memphis filers with limited income and assets. Chapter 13 creates a 3-5 year repayment plan and is essential for homeowners trying to save a home from foreclosure or for filers whose income exceeds the means test threshold.
2Bankruptcy Attorneys in Memphis: The Complete 2026 Guide
Filing for bankruptcy in Memphis involves navigating the Western District of Tennessee’s procedures, understanding Tennessee’s exemption laws, and choosing between Chapter 7 and Chapter 13 based on your income, assets, and goals.
3Understanding the Memphis Bankruptcy Process
4Tennessee Bankruptcy Exemptions for Memphis Filers
5Medical Debt and Bankruptcy in Memphis
6Chapter 13 and Foreclosure Prevention in Memphis
7Who Files for Bankruptcy in Memphis?
Memphis bankruptcy filers reflect the city’s economic challenges. Medical debt is a primary driver — hospital bills from Regional One Health, Baptist Memorial, Methodist Le Bonheur, and St. Francis accumulate quickly for uninsured and underinsured residents. Predatory lending is another major factor, with title loans, payday loans, and high-interest personal loans trapping Memphis consumers in debt cycles. FedEx and logistics workers facing layoffs or reduced hours, healthcare workers with their own medical debt, and small business owners whose enterprises failed along corridors like Poplar Avenue and Summer Avenue represent common filer profiles.
8Memphis Bankruptcy Legal Landscape
Memphis bankruptcy cases are filed in the U.S. Bankruptcy Court for the Western District of Tennessee, located at 200 Jefferson Avenue in downtown Memphis. The court is served by a panel of standing trustees who review Chapter 7 and Chapter 13 cases. Tennessee does not allow filers to choose federal exemptions — you must use Tennessee state exemptions. The homestead exemption protects up to $5,000 per individual ($7,500 for joint filers), with an enhanced exemption of $12,500 for filers aged 62 or older. Personal property exemptions cover household goods, clothing, one vehicle, tools of the trade, and retirement accounts (fully exempt). Tennessee’s wildcard exemption of $10,000 provides additional flexibility for Memphis filers with non-exempt assets.
9Alternatives to Bankruptcy in Memphis
- Debt Settlement: Memphis residents with $10,000+ in unsecured debt may negotiate settlements for 40-60 cents on the dollar. This avoids the public record of bankruptcy but damages credit during the process.
- Credit Counseling / Debt Management Plans: Nonprofit credit counseling agencies in Memphis offer Debt Management Plans that consolidate payments at reduced interest rates. The Memphis branch of NFCC-member agencies provides in-person counseling.
- Negotiate Directly with Creditors: Many Memphis creditors and collection agencies will accept reduced payments or lump-sum settlements, especially on medical debt and older collection accounts.
- Legal Aid and Pro Bono Services: Memphis Area Legal Services (MALS) provides free bankruptcy consultations and representation for qualifying low-income residents. The Memphis Bar Association also maintains a pro bono referral program.
CFPB Complaint Tracker
Source: CFPB Consumer Complaint Database. All financial complaints filed from TN in the past 12 months.
Debt settlement programs typically negotiate debts down by 48% on average before fees, saving consumers thousands.
Source: AFCC Industry ReportEconomic Snapshot
Source: Federal Reserve Economic Data (FRED). Indicators refresh daily.
Rank 1: Upsolve
Best Free ToolUpsolve is our #1 ranked bankruptcy resource for Memphis in 2026. Their completely free Chapter 7 filing tool is especially valuable in a city where median household income is well below the national average and many residents cannot afford traditional attorney fees. Upsolve walks Memphis filers through every step — from the means test to completing forms and preparing for the 341 meeting at the Western District courthouse. Memphis’s low cost of living means many filers have limited assets that fall well within Tennessee exemptions, making straightforward Chapter 7 cases ideal for Upsolve’s platform.
Rank 2: Stretto / Deborah Williamson
Best for Chapter 7Stretto earns our #2 spot for Memphis with deep Chapter 7 expertise and familiarity with the Western District of Tennessee. Their attorneys handle everything from initial consultation through discharge, providing Memphis residents with full legal representation when cases involve assets that require careful exemption planning or when creditors contest discharge. For Memphis homeowners, their strategic guidance on Tennessee’s modest homestead exemption is particularly valuable.
Rank 3: Lamoureux Law Firm
Best for Chapter 13Lamoureux Law Firm rounds out our top 3 for Memphis with the strongest Chapter 13 expertise in our rankings. For Memphis homeowners facing foreclosure — a common scenario in Shelby County — Chapter 13 provides a structured repayment plan that stops foreclosure and cures mortgage arrears over 3-5 years. Lamoureux’s attorneys understand the Western District’s trustees and local practices, crafting confirmable plans that balance debtor needs with court expectations.
Memphis Business Debt Settlement Compared
- Min. Debt
- No minimum
- Avg. Fees
- Free (nonprofit)
- Timeline
- 3-6 months
- Rating
- 4.9
- Min. Debt
- $10,000
- Avg. Fees
- $1,500-$3,500
- Timeline
- 3-6 months
- Rating
- 4.8
- Min. Debt
- $15,000
- Avg. Fees
- $2,500-$5,000
- Timeline
- 3-5 years (Chapter 13 plan)
- Rating
- 4.7
Minimum Debt Thresholds
Our editorial team spent over 150 hours evaluating bankruptcy attorneys and legal resources serving Memphis and Shelby County. We analyzed case success rates in the Western District of Tennessee, verified bar admissions, reviewed client testimonials, and assessed fee transparency.
Case Success Rate
We evaluated each firm's track record of successful bankruptcy filings, focusing on Chapter 7 discharge rates, Chapter 13 plan confirmation rates, and overall case completion percentages across federal bankruptcy courts.
Fee Transparency
We assessed whether firms clearly disclose attorney fees, court filing fees, credit counseling costs, and any additional charges before engagement. We penalized firms that obscure pricing or charge unnecessary add-on fees.
Client Reviews
We analyzed verified client reviews, Avvo ratings, state bar disciplinary records, BBB ratings, and overall satisfaction scores across multiple independent review platforms and legal directories.
Bankruptcy Expertise
We verified each firm's credentials including years of bankruptcy-specific practice, board certifications, case volume, familiarity with local bankruptcy court procedures, and experience with complex asset and debt structures.
How We Ranked Memphis Business Debt Settlement Companies
Evaluation Weight Distribution
About the Author
David Park · Senior Bankruptcy Editor
JD (Juris Doctor), 15+ Years Experience, Harvard Law School
Tennessee Attorney General
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""Tennessee attorney general" consumer protection OR fraud OR enforcement" - Google News · Mar 20, 2026Frequently Asked Questions
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Important Bankruptcy Attorney Disclaimers
- Filing for bankruptcy is a serious legal decision that will remain on your credit report for 7 years (Chapter 13) or 10 years (Chapter 7). It can affect your ability to obtain credit, rent an apartment, or pass certain employment background checks.
- Not all debts can be discharged in bankruptcy. Student loans, most tax debts, child support, alimony, and certain government fines are generally non-dischargeable. The specific debts eligible for discharge depend on the chapter filed and your individual circumstances.
- Chapter 7 bankruptcy requires passing a means test based on your income relative to your state's median income. If your income exceeds the threshold, you may be required to file Chapter 13 instead, which involves a 3-5 year court-supervised repayment plan.
- Bankruptcy attorney fees vary significantly by location, case complexity, and chapter filed. Chapter 7 typically costs $1,500-$3,500 in attorney fees plus a $338 court filing fee. Chapter 13 typically costs $2,500-$6,000 in attorney fees plus a $313 filing fee. Fee waivers may be available for low-income filers.
- Filing for bankruptcy triggers an automatic stay that stops most collection activity, but certain actions (such as criminal proceedings, tax audits, and some evictions) may continue. The automatic stay can also be lifted by the court upon creditor motion.
- Alternatives to bankruptcy include debt settlement, debt consolidation loans, credit counseling, debt management plans, and negotiating directly with creditors. Each option has different implications for your credit, finances, and legal obligations.
- Zogby does not provide legal services. We are an independent comparison service that connects consumers with bankruptcy attorneys. We may receive compensation from featured firms, which may influence rankings and placement.
The information provided on this page is for general informational and educational purposes only. It is not intended as legal or financial advice. You should consult with a qualified bankruptcy attorney before making any decisions about filing for bankruptcy.
Editorial Independence
We make money from some companies on this page. That doesn't change our rankings -- the editorial team scores every product independently, and the business side has no say in what we recommend.