When people are dealing with a great deal of debts, it is understandable that they may not be able to see the way back to financial stability. Rather than trying to go it alone, it pays to contact one of the Bankruptcy Lawyers in Dayton Ohio and find out more about what they can do to regain control of their finances.
Here are some of the ways that the attorney can help. Evaluating the Circumstances of the Client Before any of the Bankruptcy Lawyers in Dayton Ohio can provide any advice to their clients, they must take the time to look over the financial affairs of those clients. That means taking a look at all income sources, what the client pays for basic living needs like rent, clothing, and transportation, and the amount of secured and unsecured debt the client currently possesses. The goal is to determine if there is enough money available to settle those debts in a timely manner, or if the client is sinking deeper and deeper into debt while doing everything possible to stay afloat. Discussing Solutions After looking over the financial condition of the client, the lawyer can begin to discuss various solutions with the debtor.
For some, the idea of debt consolidation is a possibility. Others may be eligible for a Chapter 13 bankruptcy, an approach that basically creates a court managed plan to pay off the debt. Others may meet the current requirements for filing a Chapter 7 bankruptcy, a move that dismisses debts after any eligible assets of the debtor are sold to pay off part of the outstanding balances. When discussing each option, the lawyer will make sure the client knows how it works, what benefits come with the approach, and what possible drawbacks could occur. Doing so makes it possible for the client to make an informed decision about how to proceed. For people who are deep in debt and see no way out, Click here and start learning about the different approaches to getting a new beginning. With an advice from a lawyer and a resolve to do what it takes, there is a good chance of regaining control of the finances and looking toward a brighter future.
