If you are up to your eyeballs in unmanageable debt, you may need to consider contacting a Chapter 13 attorney to file bankruptcy for you and find a way from drowning in a financial disaster. By going this route (as opposed to trying to make impossible payments or opting for another form of bankruptcy), you can reorganize that debt into something that makes sense for you. Often, this means creating a repayment schedule that will last a period of 3 to 5 years, at the end of which you will be debt free. Only you and a good lawyer can help you make the decision about which kind of bankruptcy to file, but if you aren't sure what the difference is, here are some reasons you might opt for Chapter 13.
Bankruptcy Attorney San Antonio, Missouri Bankruptcy Lawyer, Bankruptcy Attorney Portland,
First, you can engage in some simple elimination. If your debt is of a certain variety, a Chapter 13 attorney will be able to advise you that filing for this type of bankruptcy is impossible. This is the case if you are behind in alimony or child support, if your debt comes as a result of criminal fines, or if they are in the form of student loans. These types of debt are immune to the leniency of bankruptcy and cannot be restructured as such. Most other forms of debt, however, can be. This doesn't mean that it is the right situation for you.
A good Chapter 13 attorney will advise you to go ahead with this type of filing for a number of reasons. One such reason may be that the debt you owe comes in the form of a mortgage or back taxes to the government. If you were to file Chapter 7 in this situation, it could lead to your assets being liquidated. This is something you could potentially avoid by filing Chapter 13, and it would give you the chance of paying back that debt under a new structured plan. It should also be noted that having an income over a certain level may automatically disqualify you from being able to file Chapter 7.
If the time has come to do something serious about the debt you owe, find a good Chapter 13 attorney and set up a consultation. Many lawyers offer free initial consultations in which they can evaluate your case and make some simple preliminary recommendations. If they come up with a plan for you, you can then hire them to guide you through the process and get you on the road to financial recovery.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of Bankruptcy Attorney Reviews
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment