Chances are that if you've fallen hopefully behind on your payments you may be considering filing for personal bankruptcy. The two most common types of personal bankruptcy protection are known as Chapter 7 and Chapter 13, though the type that's right for you will depend on many different factors. Regardless of the type of protection you seek, it's important to begin the process by considering your income and earning potential and whether or not you're looking to hold on to your property or surrender it. If you're in a position to make payments on your debt and you desire to hold onto your property then it's likely that Chapter 13 is the best option for you.
Bankruptcy Without A Lawyer, Cost Of Bankruptcy Lawyer, Memphis Bankruptcy Attorney,
Filing Chapter 13 will allow you to formulate a workable payment schedule so that you can hold onto your home or property. Although your debt is not eliminated under Chapter 13, it can be greatly reduced. Another benefit to claiming bankruptcy under Chapter 13 is that any wage garnishments will be relieved, though any payments under the repayment schedule will still likely be deducted from your paycheck.
Apart from this benefit, you can finally gain relief from the incessant and threatening calls and letters from aggressive creditors, as creditors are prohibited from contacting you throughout the duration of your bankruptcy proceedings. Also, if you're able to make all your payments under the repayment plan, anyone that has co-signed on a loan for you can also receive protection from creditors. You should expect the payment plan to last 3-5 years under Chapter 13 protection. Payments that fall under the plan will be based on your income before the bankruptcy, and these payments will not change even if your income adjusts during the process unless a request for a change is made in court.
Before making the commitment to file for bankruptcy, it's important that you seek the advice of a qualified bankruptcy attorney. A good attorney will help you to evaluate your situation, and can even assist you in the filing process. The best way to locate an attorney for your individual situation is through word of mouth, though it may also be worth picking up the phone and contacting attorneys within your local area.
Bankruptcy Attorney Albuquerque
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 Albuquerque
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment