Finding a way out of financial hardship is like trying to find a way out of quicksand. It seems like the more you try, the deeper you sink. Bankruptcy is one of the main routes to take when you are facing significant debt, but it’s often viewed negatively by many others.
Choosing bankruptcy is not a bad thing. In fact, it’s the exact opposite. It can provide serious relief for you and your debt, and give you a fresh financial start.
The Law Office of Jordan K. Van Matre, P.C. can help you through your financial situation by helping you file for Chapter 7 or Chapter 13 bankruptcy in McDonough, GA and Henry County. Our bankruptcy attorney is familiar with all areas of the law, and can help you find the light at the end of this tunnel.
Chapter 7 bankruptcy is a discharge plan, where most of your unsecured debts are eliminated. Your assets are sold to address debts and pay creditors. There are many eligibility requirements, primarily determined through the “means test.” There might be a way you can qualify for exemptions (so primary assets like your home or car aren’t used to pay creditors). But the specifics can get tricky, so let our Ch. 7 bankruptcy lawyer in McDonough help you.
Chapter 13 bankruptcy revolves around consolidation and repayment plans. Those with a normal income can arrange a plan for their debts to be paid off in 3 to 5 years. Ch. 13 is a pretty standard way to stop foreclosure, and you don’t have to worry about selling these type of assets. But there are plenty of requirements as well as pros and cons, all of which depend on your current situation.
There is a way to find relief for your financial situation. Contact The Law Office of Jordan K. Van Matre, P.C. to find out if bankruptcy is the right option for you.