There are few things as stressful as realizing that you are not able to keep up with your financial obligations. Whether you’re being threatened with foreclosure, overwhelmed by student loans, or buried in credit card debt, there is a point when it becomes painful to even look at the envelopes that arrive in the mail, knowing that they hold demands for money that you simply do not have. Before you give up hope, you should contact Lawyers Fort Wayne IN to arrange a consultation.
Depending on the details of your finances, you may be eligible to declare bankruptcy. There are actually two different forms that may be available. In Chapter 7 bankruptcy, qualified people can discharge many of their debts. The downside of this is that it can require giving up a portion of your assets. On the other hand, some people don’t qualify for this or don’t want to risk having to give up something like a family home. In that situation, Chapter 13 bankruptcy may be an option. In this approach, a payment plan is established based on a participant’s income and debts. If it is followed as ordered for three to five years, any remaining debt is discharged and the client can move on with his life without concern about the past debts.
It’s best to contact Lawyers Fort Wayne IN as quickly as possible when you realize that you are in trouble. An attorney can give you feedback on the nature of your legal situation, and help to ensure that you have all of the information that you need to make informed decisions about how you want to proceed. If you are being harassed by debt collectors, you can direct them to cease contacting you and to only deal with your attorney. That move alone can sometimes be so much of a source of stress relief that it makes a dramatic difference in a client’s quality of life.
You can get more information about the process and how you can set up an appointment for a consultation through Ripke Law PC. Initial meetings are only for the purpose of going over the situation. You don’t have to make any commitment to go forward with declaring bankruptcy. Once you have the information, you will be in a better position to make decisions about your future.