For those dealing with copious amounts of debt, life can be stressful in many ways. Debt collectors can be ruthless in their attempts to get their payment. They will often threaten you with court through calls and letters. If you are trying to handle more debt than you have money to pay, you may want to hire the Best Bankruptcy Attorney to help you learn more about your rights for filing for bankruptcy.
To start the process, you will need to bring in information for the first appointment with the Best Bankruptcy Attorney. It is a good idea to bring in information on all the bills you owe, your monthly income and any property you own so the attorney can assist you in knowing which type of bankruptcy will best suit your needs.
There are two options you have for filing bankruptcy as an individual. The first option is chapter 7 bankruptcy. This type requires your extra assets be auctioned off to pay off your debts. You are allowed to keep your residential house, the car you drive and any furniture and clothing. Any other items you own are sold through a trustee put in charge of your case by the court. The trustee works to get as much money for your creditors as possible. They also have the power to remove some of the debts you owe.
If you prefer keeping your property, you may want to consider asking the attorney about filing for chapter 13. In this type, none of your belongings are sold. You simply pay a payment to the court monthly. The payment is based on your monthly income and will be given to those you owe. In a period of two to five years, you will be able to overcome your bills and be free of your bankruptcy filing status.
If you are having trouble dealing with the debt you owe, you may want to consider meeting with a bankruptcy attorney and learning more about your options. Through bankruptcy, you can finally be free of the money you owe so you can have a better financial future. Get in touch with us for more info!