When it seems as if nothing helps to improve the individual’s financial situation, the time has come to seek legal advice. Choosing to schedule an appointment with one of the local Bankruptcy attorneys does more than provide some guidance. There are other benefits that can come out of that first meeting as well as the subsequent ones. Here is what is likely to happen during those meetings.
Others Have Been There
The feeling that there is no way to deal with the debt load is anything but pleasant. People who have looked at a mounting stack of bills and come to realize they will never be able to honor them often feel that all is lost. One of the things that the attorney will do is remind the client that others have been in the same situation. In fact, the attorney has likely seen much worse cases.
What this does is help the client feel a little bit less like a failure. It is one thing to be aware that bankruptcy is something people face daily but is quite another to understand that many of those people are a lot like the client. This one bit of reassurance from the lawyer will go a long way toward making a bad situation easier to face.
Learning About Options
Based on the specifics of the client’s situation, most Bankruptcy attorneys will provide some basics about what the court requires in order to receive protection. For those who have amassed a considerable amount of unsecured debt and have no way to pay it, filing for a Chapter 7 bankruptcy makes sense. This will mean the debt is either settled or discharged in a matter of months.
When the client has debts that are considered as a priority and cannot be discharged in a Chapter 7 action, the attorney will focus on the benefits of filing a Chapter 13 action. This approach makes it possible to repay those priority debts in full, plus pay at least a portion of the money owed to unsecured clients. Depending on the amount of money owed and the income of the debtor, the process can take three to five years.
For anyone who is facing financial ruin, visit website and arrange to talk with an attorney today. Doing so will be the first step toward recovering from whatever led to the money issues.
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