Chapter 7 and Chapter 13 attorneys have experience to assist you with your bankruptcy-related difficulties

1. Chapter 7 and Chapter 13 attorneys have experience to assist you with your bankruptcy- related difficulties Living with a lot of debt that you can't pay off can be unpleasant and disturb your peace of mind. Being burdened by debt makes it difficult for you to advance in life since you risk losing everything and are subject to wage garnishment and creditor retaliation. However, if you are no longer able to pay your debts and bills, filing for bankruptcy gives you a fresh financial start as well as a legal reprieve. All bankruptcy cases in the US are handled by federal courts, where, in accordance with the bankruptcy regulations, creditors are still given the chance to receive repayment of some or all of their debts throughout the prolonged repayment period. The eligibility of the debtor to apply for bankruptcy and whether their debts should be discharged are decisions made by a federal bankruptcy judge. Bankruptcy is not an admission of failure, despite what some people may believe. Actually, declaring bankruptcy is a tool that frees you from part or all of your debt responsibilities and allows you to manage your unmanageable debt. While declaring bankruptcy may not always be the wisest course of action, it does give many people the fresh financial start they need to move on. The two most common bankruptcy filing chapters are Chapter 7 and Chapter 13. Your Chapter 7 bankruptcy lawyer will inform you that it is best suited for low-income debtors with few or no assets or those who can safeguard all of their personal property. Extended Chapter 13 repayment schedule On the other hand, if you want to maintain your home but are behind on your mortgage, Chapter 13 bankruptcy would make more sense for you. Your Chapter 13 bankruptcy lawyer would create an extended repayment plan, allowing you to pay back your obligations over the course of three to five years. If you are able to successfully complete a court-ordered repayment plan, it allows you the chance to keep your possessions, including secured assets like your home and car. Getting rid of your unsecured debt You can contact knowledgeable Chapter 7 bankruptcy lawyers and knowledgeable Chapter 13 bankruptcy lawyers from reputable, seasoned law firms like Recovery Law Group. Your position will be fully understood by the attorneys at the law company, who will then provide you the best guidance regarding whether you should file for bankruptcy and, if so, which of the two bankruptcy options would be best for you. Your unsecured obligations are discharged with both

2. files, so you are not responsible for paying them. In Chapter 7, the court must approve the discharge of your obligations, whereas in Chapter 13, you must continue making payments under a court-approved repayment plan before the court will consider discharging your unsecured debts. Whatever your circumstance, Recovery Law Group will undoubtedly be able to assist you as their knowledgeable bankruptcy lawyers are aware that the majority of bankruptcies aren't brought on by careless spending but rather by severe financial difficulties. Recovery Law Group's experienced Chapter 7 bankruptcy lawyers and Chapter 13 bankruptcy lawyers can help you get rid of your debt, get back on track, and start over financially.