There are often many reasons a person gets in over their head with debt. Whether they simply made poor financial decisions or they had an unexpected issue arise, such as the loss of a job, debt can be difficult to deal with and get out of. When a person has done all they can to overcome the debts they owe, yet are still not making progress, it may be time to seek help from an attorney and learn how they can file Chapter 13 in Topeka, KS. With Chapter 13 bankruptcy, a person can be free of their debts.
Chapter 13 bankruptcy offers benefits to debtors:
1. They will be protected from all collection activity, including foreclosure, repossession and wage garnishment.
2. They will be given two to five years to pay off the debts they owe.
3. Payments are restructured and combined into one monthly payment, paid through the court.
4. They will be free of their debts without the liquidation of their property.
To file for Chapter 13 in Topeka, KS, a person will first need to bring in their financial records, monthly income and asset information to an attorney. Most bankruptcy attorneys offer free consultation appointments so people can learn more about their options for filing for bankruptcy.
It is imperative debtors list all of the debts they owe on their bankruptcy paperwork since it prevents the creditors from continuing to pursue the applicant. The attorney can assist a client in making sure all of their paperwork is properly in order before it is filed through the court.
A hearing will take place to determine whether or not the applicant is approved for bankruptcy. The applicant’s creditors are contacted and allowed to respond through letter or through a court appearance. It will be up to the judge to determine whether or not the person is approved for Chapter 13.
People who feel they are drowning in debt can receive guidance and help by contacting an attorney right away. Visit the website and learn how an attorney can assist in filing for bankruptcy for full debt relief.