Chapter,Attorney,Protecting,Ho law Chapter 13 Attorney -- Protecting Home and Hearth
When you work with an attorney, you will have no problem reducing the risks associated with getting your case in front of a judge and jury, or other formal court, when you need to. However, every case is different. It is important to work wi Bankruptcy is a situation, wherein an individual is termed as unable to discharge all the debts. When a person or a company is not able to pay off its creditors, it has an obligation to file a bankruptcy suit. In fact, a bankruptcy suit is a
People are worried, stressed, confused and exhausted by the financial twists and turns the economy has taken over the past few years. Retirees are returning to work, while college graduates are moving back home because they cannot find employment. Student loans are causing young adults to sink into debt and mortgages are upside down: the dollar amount owed is more than the value of the property. In many cases a Chapter 13 Attorney may very well be the only thing standing between a family and homelessness.Retirement should be a time of celebration after years of working, investing and diligently putting money away while planning for the future. It should be a time to travel and devote each day to the activities that bring joy and pleasure to life. Unfortunately, too many retirees have been forced to face the reality that their investments have plunged in value and their home has lost the equity it once held, taxes continue to rise and interest rates soar, along with the cost of living and gas prices. The people who took great pride in doing everything right to plan for their future now turn to a Chapter 13 Attorney for advice on how to protect their home and the meager retirement investments they still retain.With another round of employees being laid off each week, families that once felt the household budget was tight are now in a panic as the monthly income has been cut in half, or worse, is now gone. Mortgage, auto and credit card payments will all fall into collection status, while interest rates climb with each missed payment. Credit ratings plummet as bills mount and go unpaid. Even if employment is found, the damage has been done and the assistance of a Chapter 13 Attorney will be needed.There are numerous reasons a Chapter 13 Attorney will be needed for representation: financial distress, creditor harassment, wage garnishment, bank account levies, property repossession, eviction and utility shut-off. It may be possible for these situations to be reversed with the aid and guidance of an attorney experienced in handling Chapter 13 filings.An attorney will be able to assist in restructuring / reorganizing a repayment schedule that will eliminate interest payments from the equation, protect a co-signer on the house facing foreclosure and will fight on behalf of their client for the right to retain any holdings, assets and property they may still own. As long as an income from an employer or self-employment is coming into the home, a repayment schedule of affordable payments can be created that will eliminate the debt over the next 3-5 years, to begin within 30-45 days once the case has been opened.Debts that will not be eliminated: personal injury, student loans, criminal fines or penalties, income tax debt from the past three years, child support or spousal payments, or any debts omitted from bankruptcy documents. While the creditors may not agree with the repayment schedule, once the court approves it their only recourse would be to file an appeal. The client is now in a position to rebuild their credit, pay off debt and hold on to their home and assets. Article Tags: Repayment Schedule
Chapter,Attorney,Protecting,Ho