If your finances have gotten to the point
where you can no longer pay all of your monthly bills, then you will need to
take serious action. This means speaking to an attorney that understands the
laws regarding bankruptcy and if applicable, the laws regarding home
foreclosures or credit repair. It is also important for an attorney to
understand the laws regarding consumer credit. Some attorneys will have their
specialties, so it is important to inquire in advance depending upon what your
requirements are.
Chapter 7 Bankruptcy
If you qualify for this type of bankruptcy,
most or all of your debts will be discharged, and you can start over again.
This type of bankruptcy is often called a fresh start and may be what you need
to straighten out your financial situation. Not everybody qualifies for this
type bankruptcy, and not all debts can be discharged; this is why it is
important to have an attorney. Bankruptcy many be what you need, but you also
need a lawyer to navigate the path through the process.
Chapter 13 Bankruptcy
This type of bankruptcy can reduce some of
your debt and organize the balance into a fixed payment plan. You make one
payment each month, and all of your debt is covered by this payment. After all
of the payments are made, you are debt free. An attorney can help you with a
court approved repayment plan.
Foreclosure
If your financial problem is the result of
a problem mortgage, a lawyer can negotiate with the bank and make the process
of selling your home much easier or perhaps even get a lender to change the
terms of the mortgage through foreclosure. If this action is going to make a big difference in your
finances, then let a lawyer do the work for you.
Credit repair
Although there are many companies that
claim to repair your credit, the most help you will get will be from an
attorney. One of the reasons for this is that most of the bad marks on your
credit report cannot be removed except by the company that put them there. The
chance of you being able to persuade a company to do this is close to zero. The
only person that will have the ear of a creditor is an attorney. Anything less
than hiring an attorney is a waste of money. In fact, any time you negotiate
through an attorney such as Lexington
Law your chances of success are greater.
Do you have have any questions or suggestions? Write in comment section.