What Can You Expect From a Silver Spring MD Chapter 13 Bankruptcy Lawyer?
Bankruptcy is something most people hope they will never face. When you are dealing with way more debt than your income will pay, it is time to get help. Through a Silver Spring MD Chapter 13 Bankruptcy Lawyer, you can have the legal help you need to ensure you are finally free of your debt. Through this information you will know what to expect from the process so you can be completely prepared.
Chapter 13 is one of the slowest types of bankruptcy offered, but it does allow you to keep all of your assets and property. When you meet with the Silver Spring MD Chapter 13 Bankruptcy Lawyer, you will need to make sure you bring in information on every single debt you owe and your monthly income. These are crucial in being able to file your bankruptcy with the court and determine your payment amount.
With chapter 13, you will be required to pay a monthly payment through the court. This payment amount is distributed among the creditors you owe, so they are all paid down evenly. Your bankruptcy period will depend on the amount of debt you owe, but typically lasts between two and five years.
The Silver Spring MD Chapter 13 Bankruptcy Lawyer will need to make sure all of your debts are listed, to ensure the creditors cannot pursue you during your bankruptcy. Once a debt is listed, the creditor is not allowed to garnish your wages, take you to court or even contact you about your debt.
If you are approved for chapter 13 bankruptcy, it is crucial you make your payments on time to the court each month. Failure to pay your payments will result in your bankruptcy being overturned. This means you would be pursued for all of your debts at once.
If you are in need of help with your mounting debt, talk with a lawyer about chapter 13 so you can get the help you need. There is no reason for you to fight your debt alone when there is help available. Through a consultation appointment you can learn which type will benefit your needs.
