Getting Out Of Debt With The Help Of A Professional
When you’re behind on finances, it can be tremendously stressful. Getting back on track looks different for everyone. In order to understand your options, it is important to discuss them with a knowledgeable attorney. At Deming Law Firm, we have been helping clients throughout Mississippi since 2014. We take a hands-on approach in order to find a solution that will work specifically for you.
Is Bankruptcy An Option?
Bankruptcy comes in many forms, and it is all unique to your situation. At our firm, we take the time to get to the bottom of your concerns. By answering your questions, we can come up with a plan to move forward. For some, Chapter 7 bankruptcy is the best option. This is often known as liquidation and it is the most common option. A court-appointed trustee oversees the sale of your assets in order to pay off your creditors. After that is done, any remaining debt is typically erased.
Chapter 13 bankruptcy is another possibility. Its purpose is to reorganize your debt and have you pay it off over time. The court approves a monthly plan with the goal of being debt-free in three to five years. The monthly payment amount depends on your income and the amount of money you owe. Both of these forms of bankruptcy have their advantages and disadvantages. For example, Chapter 7 eliminates debt but can affect your credit score. Chapter 13, on the other hand, allows you to keep your assets, but you will spend time paying it off. We can help you decide which one of these will work best for your family.
Call Today To Discuss Your Situation
Understandably, many people are overwhelmed and can find it difficult to get back on track. Start preparing for a better future by enlisting the guidance of an experienced lawyer. To schedule a free consultation, call our Gulfport office at 228-868-8422 today. You can also email us by clicking here.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.