Debt can accumulate quickly and when a person is out of work or ill for a significant amount of time, it can be impossible to stay afloat and to catch up when they do begin working again. If a person has gotten into trouble with the debt they have accumulated, they can be at risk of losing their home or vehicle to repay the debts or of having their wages garnished until the debts are repaid. One option to help avoid this is to file for bankruptcy.
When a person needs to file for bankruptcy, the first task is to determine which chapter is going to apply to their situation. If they do not own a business, they will likely need to choose between chapter 7 and chapter 13 bankruptcy. If they do own a business, they will need to determine whether the business is going to be affected by a personal bankruptcy and what type of chapter they’ll need to use for their situation. Each person can have unique needs when it comes to filing for bankruptcy, which can make it difficult to determine which chapter is the right one for their situation.
A person who wants to file for bankruptcy has the option of working with a lawyer in Lawrence, KS. The lawyer can review their finances and debts to help them determine which chapter of bankruptcy will be right. This can lead to a higher chance of successfully completing the bankruptcy and of being able to get out from under the debt they currently have. The lawyer can also help them with the entire bankruptcy process to ensure everything proceeds smoothly. This includes fielding calls from debt collectors, making sure the person’s home and primary vehicle are safe from collections, and more.
Anyone who is considering filing for bankruptcy should speak with a lawyer in Lawrence, KS before taking the first step. This way, they can get the right help to determine which chapter to file under for a successful outcome. A lawyer like Business Name can help the person from the very first steps of filing all the way through the completion of the bankruptcy.
