You no longer answer the phone out of fear it may be a debt collector. Thought of filing bankruptcy is moving closer to being a reality. You have even gone so far as to get recommendations for a good bankruptcy lawyer.
Financial problems are extremely stressful and eventually will impact your mental and physical health. Sometimes choosing to dissolve your debt is the most beneficial solution to your money woes.
Coming to terms that your income simply cannot handle the amount of debt you have is an important first step. But there is more to bankruptcy than discharging your debt. You will also want to know what happens after filing.
Keep reading for more information on bankruptcy and hiring an attorney.
People fall behind on their bills for many reasons. Job loss, divorce, major medical expenses, or other unforeseen events can send your finances into a tailspin.
Trying to recover from a financial hardship is challenging if you have lost a portion of your income.
People at the point of filing bankruptcy are behind on their bills and can’t get a loan to fix the issue. The only way to stop the bleeding is to consult with a bankruptcy attorney. The attorney will be able to determine which options are best for you.
Chapter 7 bankruptcy, also known as a liquidation, allows you to wipe out most of your debt. Chapter 13 allows the filer to repay a percentage of their debt via a repayment plan. With Chapter 13 you can keep your home.
If you are concerned about court dates and courtrooms, bankruptcy isn’t that type of legal case. A simple personal bankruptcy may only require two meetings.
The first is called a Section 341 meeting. There you and your bankruptcy lawyer will meet with a court trustee who will ask standard questions about your creditors and other information in the filing.
Creditors rarely attend this meeting.
When it comes to lawyers and legal actions people generally think they are going to spend a fortune. With personal bankruptcy filings, it is relatively inexpensive.
Take into consideration the amount of debt you have. How much is it costing you each month in collection costs, interest, and harassment? Then think about the relief of having that burden relieved.
The return on investment cannot be denied.
Getting recommendations from people you trust is best. If you are hesitant to reveal you are struggling financially, do a Google Search for “bankruptcy lawyer near me.” Google will use your location to pull the best search engine results.
Some lawyers offer free consultations so check out a couple.
Having a consultation with a bankruptcy lawyer is the easiest way to get your questions answered. It is not just about filing for bankruptcy to get rid of debt.
Contact us if you are looking for bankruptcy representation in Shreveport, Louisiana.
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