More and more people find themselves deep in debt these days. Credit cards are easy to get, most people live beyond their means, and marketing equates having possessions with success levels. Shopping is done twenty-four hours a day, and budgeting skills are lacking. Credit counseling companies may be able to help, but sometimes situations require filing for bankruptcy.
Which Chapter to File
There are two common types of bankruptcy. Chapter 7 is one, and Chapter 13 is the other. Similarities between the two include relief from creditors calling the home, a stop to wage garnishments, and the possibility of keeping certain property. Deciding which best suits the needs of the case can be difficult without professional help. Consulting with a Chapter 13 Bankruptcy Attorney in Wetumpka AL can save people time, money, and stress.
Chapter 7 is ideal for those who wish to eliminate all debt or have no property of high value. Filing Chapter 13 bankruptcy is more involved. It is beneficial to those who wish to avoid a foreclosure or vehicle repossession and has high-value property they want to keep. Navigating the process requires an understanding of rights and responsibilities, a plan to present in court, and guidance along the way.
What to Expect
A consultation with a Chapter 13 Bankruptcy Attorney in Wetumpka AL is the first step. Completing the paperwork alone is confusing, and the plan for repayment must meet specific qualifications to be successful. An attorney provides advice, helps develop a monthly payment that is affordable, and works on settling the unsecured debt for a percentage of the total balance. A brief initial consultation is free.
To recommend a course of action, more extensive consultation is needed to gather detailed information. The attorney will also protect your rights throughout the whole process. Seek out an experienced firm, such as Courtney & Mann LLP, to save time and get on with life. Be sure to ask questions regarding the implications and affects bankruptcy will have on credit scores moving forward. It is possible to get out of debt and retain the house at the same time. Do not continue to worry any longer when it is simple to take action.
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