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Have Your Debts Become More Than You Can Handle?

Debts can sometimes cause a person to feel as if they are drowning or in a never-ending cycle of paying bills, only to gain more. The important thing to remember in dealing with debt is to never try and ignore it. Ignored debts will not go away. To overcome debt, a person needs to face it head-on and learn about their rights. Under the law, a person in the United States has the right to file for bankruptcy. Bankruptcy can allow a person to be rid of their debts in a period of time between six months and five years, depending on the type of bankruptcy they file for.

Chapter 13 is a type of bankruptcy that is most beneficial for those who have secured debts. Secured debts often include mortgages and car notes. Secured debt is the debt that has a property attached. To avoid foreclosure on a home or repossession, a person can file for chapter 13. This bankruptcy requires people to pay monthly payments through the court so debt can be paid down. Applicants are given a time period of three to five years to pay off their debt and overcome it.

When people have mostly unsecured debt, they can find help through chapter 7. Chapter 7 is a type of bankruptcy that is settled faster than any other. With this type, the trustee over the case works to make sure everything is filed correctly, and the non-essential property is sold to pay down the debts. People who have no non-essential properly often have all or most of their debts discharged. Most people can settle their debts within six months. To learn more about these two options, a person can visit Willcoxlawfirmmorganton.com.

No matter which type a person chooses, an attorney can help through every step of the process. Those who feel they are drowning in debt can find the help they need by visiting Willcoxlawfirmmorganton.com. Contact the Willcox Law Firm, PLLC and allow them to meet with you so you can get started on the process of overcoming your debt once and for all. Through bankruptcy, you can be legally free from debt and protect your home and property.

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