Debt can include everything from a zero-interest loan from a family member to a mortgage. The debts most people struggle with are credit card bills. This isn’t because they spent more than they could afford and now simply cannot pay their balances. In many cases, the credit card holder lost their source of income due to being laid off or suffering from an illness that required them to take unpaid time off of work. Although they want to pay their bills, it isn’t possible due to their lack of funds. In these cases, Attorneys in Glendale AZ may be able to help.
There are several types of debt relief available to people who are unable to repay their debts. The best option for each person depends on their individual circumstances, including the extent of their debt and current income. By the time they speak to an attorney about their debt problems, many people are already in serious trouble. They may be about to lose their home, being sued by a creditor or exhausted from the constant calls from collection agencies. For people dealing with these problems, bankruptcy is often the right answer.
People with a lot of debt who want to keep their property may be able to get the relief they need with Chapter 13 bankruptcy. Attorneys in Glendale AZ may help a client decide if this option is right for them and if it is, help them create a repayment plan to present to the court. Those who don’t own a home or other valuable property might be better served through Chapter 7 of the bankruptcy code. This option allows many people to eliminate their unsecured debts without having to pay any money to the creditors.
Attorneys like Asheton B Call work with clients to help them get relief from excessive debt. They explore all of the options so the client has the best chance of financial recovery. Anyone who has more debt than they can pay or is facing a lawsuit related to their debt should Visit the Site to learn more about the ways the bankruptcy code could help them.
