Dealing with a mountain of debt can be difficult for anyone. When you are receiving threats of wage garnishment and court cases, it can be difficult to know where to turn to for help. Often, people scramble to try and settle their debt by paying with credit cards. In other cases, people think by ignoring the calls and letters the problem will go away.
Neither of these options is beneficial in helping you to overcome your debt. Instead, you need to face it head on and make a dedicated decision to do all you can to overcome it. This is where consulting with the Best Bankruptcy Lawyer In Greenbelt MD can help. A lawyer can give you information on your different options for bankruptcy, so you can make the best choice for your needs.
At your first meeting with the Best Bankruptcy Lawyer In Greenbelt MD, there is some information you will need to bring with you. It is a good idea to be fully prepared so your lawyer can look at the information you provide and offer solutions for your debt.
You will need to bring in your social security card, pay stubs, debts and information on the assets you own. The Best Bankruptcy Lawyer In Greenbelt MD will look these over so he or she can advise you which bankruptcy filing option will be most beneficial for your financial needs.
If you have a lot of assets, you may want to consider filing for chapter 7. Any assets outside of your home, furniture, car and clothing may be sold to pay down your debts. This is the fastest option and allows you to be free of debt in as little as six months.
You also have the option of keeping the assets you own and filing for chapter 13 bankruptcy. Through this bankruptcy option, you are given a period of two to five years to pay off your debt by paying a monthly payment through the court. It is important you keep your payments paid on time, to avoid your bankruptcy being overturned.
For those dealing with too much debt, life can be difficult. If you have tried other methods of overcoming your debt and are finding no relief, you may want to consider bankruptcy. Through this option, you can finally overcome your debt and be free.