For many people, debt gets out of control. When you have more debt than you can afford, you may find it difficult to know where to start to get yourself out. Many people turn to credit cards to pay off their debts, which only exacerbates the problem. If you find yourself drowning in debt, it is time to get help. Through a Chapter 13 Attorney, you can be free of your debts and start fresh.
Chapter 13 bankruptcy is available for individuals and married couples. When you file this type of bankruptcy, you may be able to lower your monthly payments and have an increased time to pay off your debts. Chapter 13 can also help you to avoid foreclosure on your home.
Your Chapter 13 Attorney will assist you in listing all of the debts you owe. As long as your debts are listed in the bankruptcy, the creditors will not be allowed to pursue you in any way.
Through this bankruptcy type, you will be required to pay a monthly payment through the court. This amount is split among those you owe so your debts can be paid off within the bankruptcy time period. This normally lasts between two and five years. The amount of time you are given will depend on how much debt you owe and how large of a monthly payment your income will allow.
Once the judge approves your bankruptcy, it is crucial you pay your payments on time and avoid securing any debts during your bankruptcy period. This will help to ensure you are finally free of your debts and able to start a new financial future for yourself.
If you are finding debt is becoming impossible to overcome, you need to schedule an appointment with a bankruptcy lawyer. He or she will be able to assist you in learning about your options for filing for bankruptcy so you can make an informed choice. Once you file for bankruptcy, you can have the peace of mind in knowing your debts will soon be behind you. Call our lawyer and schedule an appointment for a consultation today.
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