The worry and stress that individuals and couples experience when it comes to money issues can be quite devastating, far beyond their financial impact. Many lives can be affected greatly by financial difficulties to varying degrees. It’s not simply the fact that there isn’t enough money to buy things, but the stress involved in dodging creditors, juggling finances to pay the bills, and the fear of losing items to repossession or foreclosure can be emotionally devastating. That’s why many people turn to chapter 7/13 bankruptcy in Lithonia, GA as a way to set their finances in order once again.
For people that have little to no experience or knowledge of bankruptcy, these two types of bankruptcies – chapter 7 and chapter 13 – are the two main types of personal bankruptcies individuals may need to file for. In order to determine what type of bankruptcy a person qualifies for, when an individual or couple meets with a bankruptcy attorney, they will be given a means test. This determines what type of bankruptcy an individual or couple qualifies for from a financial standpoint. For individuals on the lower scale of earnings, chapter 7 will be a viable possibility. For those with higher amounts of debt or those with higher incomes, a court-ordered repayment plan, bundled up in chapter 13 bankruptcy proceedings, will be the only option available.
While there are many more details concerning chapter 7/13 bankruptcy in Lithonia, GA, it would be impossible to discuss them all in this single article. That’s why it’s important to speak with a bankruptcy attorney. An attorney can answer all of an individual or couple’s questions about bankruptcy. They can also determine what type of bankruptcy a person qualifies for and the lawyer can make the initial bankruptcy filing.
If you have been living in a situation where the stress and anxiety over money has gotten to a point where it is uncontrollable, there is hope. In some cases, that hope takes the form of bankruptcy. If you need to know more about the process of bankruptcy or you want to get the process moving as quickly as possible, you may want to check out the services found at website.