Settling Debts With Creditors Via Chapter 13 Bankruptcy

Certain situations in life cannot be predicted, such as falling behind on paying bills due to getting injured, losing a loved one, or a similar situation. Unfortunately, creditors still need their money when someone is experiencing financial difficulties and they will take action to get paid. Phone calls from creditors are frustrating to deal with and can cause more stress in a financial situation that is already difficult. If you are ready to satisfy the creditors so the phone calls will stop but cannot pay the debts upfront, consult with a lawyer about filing bankruptcy. Filing for Chapter 13 bankruptcy might be the ideal solution for your financial situation. 

Find Out if Chapter 13 Bankruptcy Is Ideal

It is worth consulting with a lawyer before filing for bankruptcy because you will find out which type of bankruptcy is right for you. The benefit of filing for Chapter 13 bankruptcy is that you can prevent your home from being foreclosed on, which could relieve a lot of stress. A lawyer will assess your financial situation to determine if you are eligible for Chapter 13 bankruptcy. For example, you must make enough money to pay back creditors without struggling to take care of your needs. A repayment plan will be produced that is intended to help you pay creditors back over a period of a few years.

Enjoy Relief From Debt Collection Phone Calls

A lawyer is helpful during the process of filing for bankruptcy because they can put an end to the debt collection phone calls. You do not have to way for your bankruptcy case to be approved by a judge before the phone calls stop. The reason is that upon hiring a lawyer, they can contact each of your creditors to inform them that you have filed for bankruptcy. They can demand that the phone calls stop because you are making an effort to settle the financial situation you are in.

File for Chapter 13 Bankruptcy the Right Way

Do not file for Chapter 13 bankruptcy without a lawyer because you might make mistakes that are viewed as fraudulent. For example, accidentally forgetting to list all of your assets or income in the bankruptcy documents could land you in legal trouble. A lawyer knows what must be included in the documents and they will not file your case with the court until everything is accurate.

Contact a local bankruptcy lawyer, such as Ricardo B. Casas, to learn more.