Many Americans face large amounts of debt over the course of their lives. Most people work very hard to keep that debt under control. However, an unexpected issue, illness, or loss of work can cause a person to fall behind on debt payments. This can create serious issues for the debtor, as well as initiate a plethora of phone calls and harassment from creditors. This can create a lot of stress and further compound the problem. Fortunately, a Bankruptcy Attorney in Tallassee AL offers assistance in these areas.
Filing for Bankruptcy
When debt gets out of control, it can have serious consequences on a person’s ability to take control of their life. Falling behind on debt payments can cause credit scores to plummet. This can create issues for the person getting new credit or consolidating previous credit. It can also have an impact on getting a job or even a place to live since many employers and rental companies perform credit checks. Filing for bankruptcy can be an option to help stop these issues and take control of one’s finances.
Chapter 7 or 13
There are two bankruptcy options for individuals. For those with a steady income or substantial property, chapter 13 bankruptcy is the best option. This allows the debtor to restructure their debt in more easily managed payments over a specific period. For those without substantial property or a steady income, chapter 7 bankruptcy can provide relief. In this form, debt can be dismissed. A Bankruptcy Attorney in Tallassee AL will help determine the best type for the situation.
Getting Help
Although bankruptcy can be filed without an attorney, it can be a difficult process. Certain forms and obligations must be submitted and performed before the bankruptcy can be considered. There is also a court hearing that must be attended to determine if bankruptcy can be granted. An attorney can assist with the entire process and ensure each step is followed precisely and without error. An attorney is also able to attend the court hearing to ensure the debtor’s best interests are considered.
Debt can be a difficult problem to resolve on one’s own. Fortunately, firms such as Courtney & Mann LLP offer attorneys that understand the process and help every step of the way. This can allow a person to get control of their finances and start over.
