When debts are mounting and a person feels like they have no way to overcome them, it is important they realize their options for hiring a Bankruptcy Attorney In University Place Wa. Although a person is not required to hire an attorney to help them with bankruptcy, most people feel more comfortable working with an attorney. With this information, individuals will be better able to understand what they need to do so they can get the legal help they need.
Get Started By Scheduling a Consultation
Scheduling a consultation appointment allows the attorney to review the client’s financial records so the right decision can be made for their needs. They type of bankruptcy a person chooses will be determined by the types of bills they owe, how much income they have coming in, and the number of assets they own.
For individuals, there are two main types of bankruptcy options and each of these can be explained by the Bankruptcy Attorney In University Place Wa. The bankruptcy attorney will help their client understand which option will be most viable for them.
Chapter 13 Helps Homeowners Avoid Foreclosure
The Bankruptcy Attorney In University Place Wa will help their client to understand their options for preventing foreclosure on their home. Foreclosure can cause a homeowner to lose their home and leads to great amounts of stress.
With Chapter 13, the creditors must cease and desist, which means they can no longer pursue any type of collection activity, even foreclosure. When someone is approved for Chapter 13, they will be given three to five years to pay down the debts they owe.
During that time period, the person will pay down their debts via a payment made to the court each month. At the end of the bankruptcy period, the person will have paid off the debts they owe and will be able to start a new financial record.
If you would like legal help, it is important you call and schedule an appointment right away. With a consultation appointment, you can learn about your options and what you need to do so you can get started on filing for bankruptcy.
