A bankruptcy isn’t something that many people get excited about, but regardless, it is something that an individual or couple may need to seriously consider. There are financial implications of debt that can’t be repaid that could be crushing to people without any recourse. However, to truly understand the need for bankruptcy, or to uncover other options in dealing with excessive debt, a person should always consult with bankruptcy attorneys in Glendale, AZ before making any decisions.
There are plenty of reasons why a person should consult with bankruptcy attorneys in Glendale, AZ, and the first is to accurately determine if it is actually necessary. Some attorneys offer debt counseling and debt-resolution services outside of bankruptcy. In these situations, an attorney may be able to represent you to your existing creditors to help negotiate payment plans and to reduce either the amount of debt owed or the amount of interest the creditor is charging. This could help reduce debt without having to go through the bankruptcy process.
As it relates to bankruptcy, consulting with an attorney is good because they can help anyone determine what sort of bankruptcy they qualify for. Most people qualify for chapter 7, a bankruptcy in which debts are either partially satisfied or completely written off by the courts. In a chapter 13 process, a court-ordered repayment plan will be put into place. It’s the only type of bankruptcy available for people with higher incomes.
On top of determining what type of bankruptcy a person or couple qualifies for, the attorney can get the ball rolling on the filing of bankruptcy with the court. The fact is that bankruptcy filings can be lengthy and complicated, and in these situations, to avoid any potential omissions or mistakes, having an attorney handling the filing, especially one that understands the process of bankruptcy, reduces the likelihood of any mistakes being made. Making mistakes will delay the process and can allow for debts to increase.
If you are considering bankruptcy, or perhaps you want to explore options outside of bankruptcy, the first thing to do is consult with an attorney, and in these cases, many people turn to an attorney like Asheton B Call. You can consult with him and determine what steps need to be taken next. To find out more about this attorney, you can simply Click Here.
