Financial troubles create stress which results in moody behaviour and can cause divorces, breakups, and other relationship and personal problems. This commonly occurs when a person realizes they are overwhelmed with bills whether it is their own fault or not. Nowadays, it often occurs when one or both income earners in a household loses their jobs and is living on unemployment or a job that pays lower wages. When the pile of bills is causing personal problems, it is time to take action. Chapter 7 in Lawrence, KS may be just the solution to help you get a fresh start. The following will cover some of the aspects of this form of bankruptcy.
This form of bankruptcy is also referred to as a liquidation bankruptcy. It is designed to allow the consumer to have their debt discharged while saving their homes, personal property, and vehicles. There are advantages and disadvantages of Chapter 7 bankruptcy as with all chapters of this debt relief solution.
How does it help?
People with overwhelming medical, credit card, and mortgage debt feel they have nowhere to turn when there is no money to pay their bills. It makes them feel lonely and stuck. Hiring an attorney will help you feel less lonely and give you some peace of mind about your debt and filing for bankruptcy. It helps you get rid of the overwhelming debt even if you have to make a few concessions to make it happen.
Does everyone quality for Chapter 7?
Not everyone will be eligible to file for a liquidation bankruptcy. There are income requirements which keep people who make an above average income from seeking this kind of help. You also have to owe a certain amount of debt in some cases. An attorney can help you find out if Chapter 7 in Lawrence, KS will be your best solution.
If you are experiencing stress from overwhelming debt and are ready to take action, requesting a free consultation with a lawyer is your first step to debt relief. Free consultations mean you risk nothing by speaking with an attorney, but you reap a lot by finding out if this option is ideal for you situation. Business Name offers advice and representation for consumer bankruptcies.
