Many people are suffering with large amounts of debt these days. Unfortunately, people often lean on credit cards and quick loans to help them get out of debt. This can often further complicate a difficult situation and lead to larger amounts of debt. It is important you never ignore any of your creditor’s threats. You need to contact them and try to work out arrangements on the amounts you owe. If you are not successful, there is an option you may want to consider. Through a Chapter 13 Bankruptcy Lawyer, you will have the option of overcoming your debt through filing for bankruptcy.
If you are interested in filing chapter 13 bankruptcy, you will first need to meet with a bankruptcy lawyer. It is important you bring in all of the required information, since time is of the essence and you need this filed as soon as possible so your debts will be covered. You will need to bring the following items:
- Your ID and social security card
- Pay stubs or proof of earnings
- Bills and account information
- Banking information
This information will be used by the Chapter 13 Bankruptcy Lawyer to file your claim through the court. The lawyer will need to make sure each and every debt you owe is listed so you cannot be further pursued by the creditor. When your debts are listed in your bankruptcy filing, you cannot have your wages garnished or be taken to court for the debt you owe. In fact, your creditors can no longer contact you at all.
During your bankruptcy, you will be responsible for paying a court-ordered payment for your debts. This amount will be based on your monthly income and will be dispersed among the creditors you owe. The period you will be required to pay will be based on your income and the amount of debts you owe. Most people have a bankruptcy approved for two to five years.
If you are dealing with more debt than you are able to handle alone, contact a bankruptcy lawyer and get help. Through the lawyer, you can overcome your debts so you can have a better financial future. Visit us for more details.