Benefits of Hiring a Bankruptcy Lawyer in Marion IN
A bankruptcy may be able to stop a foreclosure and allow you to keep your home.
Your bankruptcy lawyer knows that a bankruptcy can damage your credit. They may have alternatives to try before filing for bankruptcy, such as paying off some of your debts through settling with the creditor instead of paying the full amount.
Your lawyer will be able to take all calls from your creditors and you will no longer receive these calls. This can be a major stress reliever for many who are behind on their bills. While the bankruptcy is under way, no other creditors will be able to claim you owe them money, as they have to respond to the bankruptcy before it begins.
Bankruptcy is a term that makes many people cringe. It can stay on your record for many years, make it harder to buy a house or car, and interfere in your life in other ways. However, bankruptcy may be the only option if you are having trouble making the monthly payments for your bills and/or are facing foreclosure. Instead of worrying about what problems filing for bankruptcy may cause, you may want to think of the benefits you can gain from hiring a professional Bankruptcy Lawyer in Marion IN.
You may be able to file a Chapter 13 bankruptcy, which allows you to consolidate all of your debts into one monthly payment that you can afford. Your debts will have to be paid off within three to five years, and then you will be debt free.
If you can’t file for Chapter 13, you may be able to file for Chapter 7 bankruptcy. This is faster, as you will sign over all of your assets to a trustee, the trustee will sell your assets, and the proceeds will go to paying off your debts. It does mean that you will have to give up all non-essential assets. Essential assets can include your home, for example.
These are some of the top ways you may be able to benefit by hiring a Bankruptcy Lawyer in Marion IN. Your bankruptcy lawyer will always try to do whatever is necessary to help you clear your debts with the least amount of problems. When you hire a lawyer such as Ripke Law PC to help you, you will know that you are going to be in good hands and you will be able to clear your debts.
