One of the greatest sources of stress in a person’s life can be their financial situation. When people are dealing with more debt than they can afford, it becomes impossible to keep their financial records together. With each payment that goes unpaid, there are increased penalties and fees that further compound the problem. Many people mistakenly believe they can ignore their debts and the collectors will simply go away. Unfortunately, ignoring debts will only make things worse. Those who are in over their heads with debt can find legal help by contacting a Chapter 13 bankruptcy lawyer in Wichita.
A Chapter 13 bankruptcy lawyer in Wichita can often help people save their homes from foreclosure. Once a person is under Chapter 13 bankruptcy, the court issues an automatic stay that prevents any bill collectors from further pursuing a debtor. The automatic stay prevents a person from losing their home through foreclosure or their car through repossession. When a person meets with the bankruptcy lawyer, they can discuss their financial concerns and see which type of bankruptcy will be most beneficial. If the lawyer feels chapter 13 will be beneficial, they can help their client fill out the necessary paperwork so the process can be started.
This form of bankruptcy allows a person to have three to five years to pay off any debts they owe and bring all their payments current. During their bankruptcy period, people can have their bill amounts lowered so they are more affordable. This lowered amount allows people to be more successful in catching up their bills and securing their finances. Many states require people to also go through credit counseling so they can learn to make better financial decisions. Through the process, people not only are able to legally overcome their debt, but they are also given the keys they need to improve their financial future.
If you are facing more debt than your income will allow you to pay, contact The Business Name. They are able to help people overcome their debt through bankruptcy so they can be free of financial stress. You can also visit them on Google+ for more information.
