When debt becomes more than you can deal with, it is time you sought help with your situation. First, you need to contact your creditors and see what they are willing to do to help you. If you cannot find relief from your debt, you may want to consider seeking help from a Lawyer in Lawrence KS. A lawyer can go through your financial records and help you make a decision on whether or not bankruptcy is for you. Through bankruptcy, you can be given time to pay down your debts and prevent the loss of your home.
Chapter 13 bankruptcy is a type that is available for individuals to file. Though you could file for bankruptcy without legal assistance, most people feel more comfortable having a lawyer working on their side. A lawyer will ensure all of your paperwork is filed correctly and can negotiate your payments so they are affordable. When you file for bankruptcy, you will be required to pay a monthly payment through the court. This payment will be dispersed among all of the bills you owe. During your bankruptcy period, you could end up paying less for your car payments and will be able to avoid any foreclosure action on your home.
To find out if you are eligible for bankruptcy, you will need to bring in information on all of the debts you owe. Your lawyer will also need information on your income as well as any assets you own. This will help to determine which type of bankruptcy will best suit your financial needs. Once you are approved for bankruptcy, it will last between two and five years. This will depend on how much debt you owe and how much income you have coming in. The longer the period of bankruptcy, the longer you will have to pay down your debts.
If you are dealing with way more debt than you can afford, you need to meet with a Lawyer in Lawrence KS. Visit Website Domain and learn how they can assist you in overcoming your debt and securing a brighter financial future for yourself.
