Bankruptcy is an option to consider when you are covered up with debt, and a bankruptcy attorney in Arlington can guide you through the process. The attorneys at the Law Offices of David Kohm are authorities on bankruptcy law. You can rely on their outstanding expertise in managing the complications you are likely to encounter. When you have much more indebtedness than you can handle and your payments are overdue, you may choose to declare bankruptcy as the only option that makes sense to you.
Creditors are worried about getting the money that you owe them, and they can drive you to distraction with their attempts to collect. When you have no other way to go, you can protect yourself from harassment by getting a lawyer to file bankruptcy for you.
The law provides access to Chapter 7 bankruptcy and also to Chapter 13, and both options offer you a way out of the difficult financial situation you are in now. They provide different paths to the same goal, and the one you choose depends on how deep of a hole you are in financially.
A big difference between the two ways to file for bankruptcy is the question of whether you can pay off your debts if you get some time to do it. Chapter 7 usually dismisses all of your debts so you pay nothing to your creditors. If you have property that has value, the court may require you to give it up. Your credit record takes a hit if you choose to file for Chapter 7, and it usually takes many years to repair the damage that results.
Chapter 13 gives you a chance to work with your bankruptcy lawyer and your creditors to pay off the money that you owe. You have to agree to make payments on your debts according to a payment plan that you set up with your attorney.
You can get a free consultation at the Law Offices of David Kohm to discuss the financial problems that you face. Call 817-204-0900 today to start turning your situation around.
