Sometimes, debt can go out of control and lead to serious issues in a person’s life. When debt begins mounting, it is imperative to be proactive and do everything prossible to get help from creditors. If the creditors are not being helpful, seeking help from a bankruptcy attorney in Martinsburg, WV is important to learn about legal options.
How to Get Help from an Attorney
There are certain laws in place that help individuals who are coping with mounting debt so they can have a fresh start. These laws allow individuals to file for bankruptcy to have more time to pay off their debts or have them absolved.
In order to file bankruptcy, the first step is to meet with a bankruptcy attorney in Martinsburg, WV. Many attorneys offer free consultation appointments to help individuals learn about their options. Before a person pursues bankruptcy, they need to meet with an attorney to discover which type will be most beneficial for their financial needs.
Types of Bankruptcy
There are a couple of different types of bankruptcy available. Sitting down with an attorney allows an individual to learn more about these two types and their benefits.
Chapter 13 is a type of bankruptcy that is beneficial for those who are facing foreclosure on their home. This bankruptcy gives a person three to five years to pay off their debts. Chapter 13 stops any collection activity, including foreclosure.
There is also the option of chapter 7, which is more for unsecured debts such as credit cards. This debt can be settled in as few as six months but may require a person to have their non-exempt assets liquidated for payment.
If you feel you are drowning in overwhelming debt, there is legal help available. If you would like to learn more about your options, visit lshermanlawfirm.com. They are a law team that is focused on helping individuals legally overcome their debt for a fresh start. Call the office right away to get started.
