One of the most stressful financial issues you can deal with is having way too much debt. When you feel you are drowning in debt, you may not know who or where to turn to for help. Though some creditors are willing to work with those who owe them, not every company is. If you have tried to do all you can to get out of debt and are still not finding relief, there is help. Through a Bankruptcy Attorney in Topeka KS, you can learn about your options for filing for bankruptcy, so you can overcome your debt and secure a better financial future.
How Can Bankruptcy Help You to Overcome Your Debt?
Though bankruptcy is not for everyone, it can be helpful for many. If you have more debt than income, a Bankruptcy Attorney in Topeka KS may be able to help you. It is important you first contact the attorney and schedule an appointment for a consultation. You will need to bring in as much information as possible on your finances. It will be helpful for you to provide information on all of the debts you owe, your income and any assets you own. This can greatly assist your attorney in helping you to make the important decisions on what type of bankruptcy will best benefit your financial situation.
Chapter 7 bankruptcy is a type available for both individuals and businesses. In this type, all of your non-essential assets are sold, to help pay down the debts you owe. You are allowed to keep your residential home, car, furniture and clothing. To handle the sale of your assets, a trustee will be put in charge of your case. The trustee will work to gather as much payment as possible for your debtors and has the control to absolve you of some of your debts.
Chapter 13 bankruptcy allows you to keep all of your property and assets, but you must make a monthly payment to the court, to cover your debts. This allows you to pay off your debts in a period of two to five years, depending on the amount of debt you owe and your monthly income.
If you are considering bankruptcy, click here to find out more. Visit Website Domain and allow them to help you out of your debt and learn how you can make better financial decisions in the future. Contact them today and schedule an appointment.
