chapter 13 bankruptcy edmonds wa

Understanding Chapter 13 Bankruptcy

Bankruptcy has gotten a bad reputation from many people throughout the years and although it is easy to understand why, people should give it a chance if finances aren’t right and they need a helping hand to get out of debt. Sure, filing bankruptcy changes life as you know it and while it is not an ideal step that you want to take, it can benefit your situation in more ways than one.

Chapter 13 Bankruptcy Information

Several types of bankruptcy are available to help an individual mend from their financial difficulties. Chapter 13 is one of the most popular of the types. This type of bankruptcy allows an individual with income the opportunity to create a feasible payment plan that allows them to repay the debt they owe according to a budget that meets their financial needs. The debts are paid off within a three to five-year time period, after which time the individual should be ready to get back to normalcy again.

Why File Chapter 13?

Chapter 13 is oftentimes used to stop a home foreclosure or a repossession of a car. It certainly provides the opportunity to get stop these things that only worsen your life. Chapter 13 helps you get a new start and sometimes, that’s all that you really need.

You Need an Attorney

chapter 13 bankruptcy edmonds wa

If you plan to file chapter 13 bankruptcy edmonds wa you need a lawyer there to help. Bankruptcy is complex and can really stress you out if you attempt to handle things without the expertise that an attorney offers. Attorneys have the expertise to minimize your worry.

Talk to an Attorney

Attorneys provide no cost consultations that help you learn more about your specific issues and how Chapter 13 can benefit your life. If you are overwhelmed with debt and looking for a solution to get out, or if you need to stop foreclosure or repossession, you shouldn’t wait to speak to an attorney to learn more about bankruptcy.

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