Gain the Financial Freedom You Deserve with Lithonia Chapter 13 Bankruptcy

Is your home in the process of being foreclosed on or is your car ready for repossession? These types of financial problems are very frightening to many individuals. You may not know where you’re going to live or how you’ll get to work. Bankruptcy is a legal process that can help you gain the financial freedom you deserve and still keep your assets. Lithonia chapter 13 doesn’t mean that everything will be liquidated at an auction and you’ll be left with nothing. Chapter 13 bankruptcy restructures your debt and will give you a more affordable payment option. This frees up the money you need to live on without worrying about where you’ll be living or what you’ll be driving.

Once bills start getting behind, creditors begin calling non-stop all day and night. Changing a telephone number only delays the calls and the debt will still be there. Unsecured debt, which is usually credit cards, can destroy someone’s credit rapidly when they’re not making at least the minimum payment on a regular basis. Speaking with a Lithonia chapter 13 bankruptcy attorney will give an individual the peace of mind they need and will help them determine if they’ll be able to eliminate their debt. A credit counseling course must be taken to determine the number of payments and individual can afford. A certificate will be given to the individual and it must file with the bankruptcy.

The bankruptcy court will determine what payment amount an individual is able to pay. Chapter 13 bankruptcy will strip second and third mortgage liens on a home, reduce unsecured debt, get back repossessed assets and stop the repossession of a car and foreclosure of a home. An individual will have to make reduced payments to their creditors for three to five years. After the payments have been completed, the balance of the debt will be forgiven by the creditors and the bankruptcy will be final.

Bankruptcy is nothing to be ashamed about. Financial problems can occur because of a divorce, illness or serious injury that left an individual unable to work.

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