Unforeseen events can occur in a person’s life that make it difficult for them to pay for their financial responsibilities. Their financial trouble may not be from not budgeting correctly, but simply a minor setback due to a loss of income. When a person is faced with not being able to meet their financial debt, it can be extremely difficult to them. The last thing they want to do is lose their possessions because they have temporarily fallen on hard times. An answer can be found by speaking with a Chapter 13 Bankruptcy attorney in Valdosta area. They can explain how Chapter 13 will allow them to keep possession of their assets by setting up a reasonable repayment plan with their debtors.
Benefits of Chapter 13 Bankruptcy
An individual that selects to file Chapter 13 can prevent the liquidation of their assets to be paid out to their debtors. This means they will be able to stop foreclosure on their home and find a solution for their mortgage payments. A Chapter 13 Bankruptcy attorney in Valdosta can explain how the person will be able to secure their debts to be repaid over a period during a Chapter 13 plan. With a lower repayment plan, it will take some of the financial burden off the person during a difficult time without having to give up their personal assets.
Discover Today if Chapter 13 is Right for You
The skilled experts at Charles Farrell Jr. Attorney at Law can provide you with the information that you require to make a sound decision in protecting your assets. A specialist in bankruptcy law, they can explain the options that are available for your case. You can gain the relief that you need and take back control of your financial situation.
