While there are many reasons a person can get in over their heads with debt, the results are always the same: debt causes creditors to hound those who owe them. Creditors may make repeated phone calls, garnish a person’s wages, and take them to court. Debt becomes even more serious when it is secured because homes and property can be taken away. Those who cannot pay their debts should consider contacting the attorneys in Casa Grande AZ, because with the help of an attorney, a person can learn if bankruptcy will be a viable option for them.
The first step in pursuing bankruptcy is meeting with the attorneys in Casa Grande, AZ, who will then need to review the person’s financial records, income and assets to determine what type of bankruptcy will be better for them to file. With bankruptcy, people can be legally free of their debts so they can start afresh. There are a couple of different options for bankruptcy depending on a person’s financial circumstances. With bankruptcy, people can be legally free of their debts so they can start afresh.
Chapter 7 is an option for most people who have unsecured debts. The court-appointed trustee placed over the bankruptcy will work to ensure the debts are either paid off through the liquidation of property or through debt forgiveness. This type of bankruptcy is typically settled within six months, depending on how much debt the person owes.
There is also an option of chapter 13, which is a bankruptcy mostly directed to people who want to avoid foreclosure and repossession. The court works with the person to help them overcome their debt through monthly payments paid through the overseeing of the court. This bankruptcy type normally takes around three to five years to be accomplished and can help a person to save their home and property.
If you have been dealing with more debt than your income can handle, there is legal help to be found: click here and visit Azdebtfree.com. Asheton B. Call, attorney at law, can go over your financial situation and help you determine the right course of action so you can finally be free of your debts and start a better financial future. Call the office today to get started.
