Bankruptcy Lawyers Aurora afford you with options to assist you in become debt-free. In life, mismanagement of debt presents the high probability of defaulting on loans and ending up in collections. This also presents the possibility of foreclosure and repossession. However, your bankruptcy attorney helps you avoid these adverse legal actions by filing a claim on your behalf.
The Benefits of Chapter 13
The first and obvious benefit of chapter 13 is that it stops all collection efforts and legal action by your creditors. However, you are required to wait for the judge’s approval after a review of your finances and credit history. Next, your bankruptcy claim prevents foreclosure of your primary residence as it is included and protected through bankruptcy. The same is true of any automobiles for which you are behind on loan payments.
Most credit card debts are discharged through a bankruptcy claim. However, any government loans such as education-based funds are often ineligible. If you have a significant amount of loans that are behind, you should consider bankruptcy as a method for becoming debt-free. Your attorney assists you in determining which chapter is right for your case.
Local Bankruptcy Attorneys
Ledford & Wu are bankruptcy attorneys who help consumers who have an overwhelming amount of debt that presents a potential hardship. They review the consumer’s debt and devise strategies through bankruptcy to establish which chapter is most beneficial for the client. Through these efforts the attorneys assist the consumer paving the way to a debt-free lifestyle. If you wish to discuss your case with an attorney today contact this law firm to schedule a consultation.
With Bankruptcy Lawyers Aurora, you weigh your options and determine whether filing for bankruptcy is the most effective choice to settle your debts. These chapters allow you to choose to reorganize your debts or liquidate your assets to settle them completely. They provide you with a predetermined time allowance. Typically, this is between three and five years for most reorganizations. Your selected bankruptcy attorney explains the stipulations of your bankruptcy chapter to allow you to make a well-informed decision. To learn more about how bankruptcy can help you .
