How to Get Help from Bankruptcy Lawyers in Martinsburg, WV

Written on November 21, 2017 by admin in Bankruptcy Law No Comments

Mounting debt can occur for various reasons, including poor financial decisions, unexpected job loss, and illness or injury. When a person has done all they can to overcome their debt to no avail, legal help may be the answer. Bankruptcy lawyers in Martinsburg, WV can help individuals legally to overcome their debt, greatly reducing the stress and irritation debt brings to individuals.

How Can a Lawyer Help?

When a person finds themselves in over their heads with debt, it is important they discover all of their legal options. The first thing a person needs to do is to make sure they contact each creditor to see if any payment arrangements could possibly be made to help them pay off the debts they owe. If the creditors refuse to help, an individual should consider contacting bankruptcy lawyers in Martinsburg, WV.

When meeting with the lawyers, it is important that the person brings in all of their financial records so they can be discussed with the lawyer. The names of each creditor, contact information, account number, and the amount owed will help the lawyer begin to formulate the best legal option for their client. It is imperative a person is thorough in providing information to their lawyer.

There are a couple of different options when it comes to legally dealing with debt. Sometimes, it takes a lawyer getting involved for the creditors to be willing to cooperate. If the lawyer feels the creditors are unwilling to help, bankruptcy is an option.

Options for Bankruptcy

There are a couple of different options for bankruptcy, depending on a person’s financial needs. One option is chapter 7 and offers a fast way for individuals to overcome debt, normally being settled in six months or less. The main downside of this type of bankruptcy is that a person may be forced to liquidate some of their assets to pay off debt.

There is also the option of chapter 13, which allows a person to be given time to pay off their debt and be able to prevent the loss of their home to foreclosure. The period for this type of bankruptcy is between three and five years, depending on how much debt is owed.

If you are in need of legal help for your debt, visit Lshermanlawfirm.com. Contact the office today so your appointment can be scheduled.