One of the most difficult aspects of dealing with too much debt, is the constant calls and letters of harassment. Creditors have the right to contact you and demand payment. They also hold the right to pursue you for the money you owe, through wage garnishment and taking you to court. If you are dealing with these issues, you do not have to face them alone. Through an attorney, you can file for Chapter 13 Bankruptcy, so you can be free of your debt and get on with your life.
First, you will need to meet with your bankruptcy attorney and provide information on all of the debts you owe, your income and any assets you own. It is crucial you give your attorney information on all debts, as these will be listed in your bankruptcy. If you forget to list a debt, the creditor can continue to pursue you, as allowed by the laws in your state. Make sure you are thorough in providing information, so your attorney will be able to fully assist you in filing your bankruptcy papers correctly.
Chapter 13 Bankruptcy does not require you to sell any of the assets you own, no matter how many. You are allowed to keep your property, but you must make a monthly payment through the court. This payment is based on the income you have coming in each month. It will be used to disperse among all of the creditors you owe, so they can be paid off during your bankruptcy period. Most people are able to go through two to five years of bankruptcy and have all of their debts settled.
No matter how much debt you owe, bankruptcy may be able to help you. Most attorneys offer free consultations, so you can meet with them and go over your options. This will allow you to gain the information you need, so you can make an informed choice on your bankruptcy filing status.
If you are in need of help with your debts, contact the office of Brent Sorenson & Associates P.C. He and his team will be glad to help you make all the right decisions on your bankruptcy, so you can finally be free of your debt.
