Most people do not plan on getting in debt, but it happens over a period of weeks, months, or years. When debt becomes overwhelming, it can be difficult for a person to overcome it. Thankfully, there are legal options that can help debtors to overcome their debt and start fresh financially. Seeing an Attorney in Topeka KS is sometimes the right option when debt becomes a serious force to deal with.
If a person has done all they can to make satisfactory payment arrangements and get their debts paid down, it behooves them to seek legal help. In some cases, a lawyer can help a debtor avoid losing their home and other property to collections from their creditors. It is imperative a person is proactive and seeks help as soon as they can. Waiting too long can lead to further complications and an inability of the lawyer to help.
There are a couple of types of bankruptcy that can be filed by the average individual and couple. The first type is chapter 7 and is often preferred because it is the fastest means of overcoming debt. This type of bankruptcy typically takes around six months to settle and requires a person to have some of their non-essential property liquidated so their debts can be paid down.
The second type of bankruptcy is chapter 13 and this type is ideal for those with secured debt. Homeowners who are facing foreclosure will find chapter 13 to be a welcome method of preventing the loss of their home due to collection activity. Once a bankruptcy is in place, all collection activity is halted because the collectors are no longer allowed to pursue the one who owes them.
The first step in filing for bankruptcy begins with meeting with the Attorney in Topeka KS. At this initial meeting, the attorney will advise their client on which type of bankruptcy will be most beneficial based on their financial records and assets. Though the process can take months or years, overcoming debt with an attorney takes much of the stress off of a debtor.
If you are in over your head with debt, now is the time to seek relief. Call the law office of Business Name and ask them to schedule your consultation appointment right away.
