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What You Should Know About Chapter 7/13 Bankruptcy in Jonesboro, GA

When debt becomes an overwhelming issue, people often feel out of control and are unsure of what they can do to overcome it. One of the biggest mistakes someone in debt can make is ignoring their creditors. Many people mistakenly believe their debt will simply go away if they ignore the calls and letters. Unfortunately, this can actually lead to bigger problems because most creditors will do all they can to pursue those who owe them. Thankfully, there is the option of chapter 7/13 bankruptcy in Jonesboro, GA. With bankruptcy, a person can be free of their debt once and for all.

To pursue chapter 7/13 bankruptcy in Jonesboro, GA, a person needs to meet with a lawyer. A lawyer will ask a person to bring in their financial records and information on all of the debts they owe. It is important the person takes time in gathering information and has all of their account numbers for each debtor. The lawyer will review this information and help a person to determine which option will give them the best results.

Chapter 7 is a bankruptcy type that allows a person who has mostly unsecured debts to settle them quickly. The vast majority of chapter 7 cases are settled within six months. Some people are required to surrender some of their non-essential property for payment of the debt.

Chapter 13 is a viable option for those who owe secured debt such as for homes and cars. This type of bankruptcy can help a person to prevent the loss of their property because it stops all forms of collection. With this type, a person makes monthly payments to ensure their debt can be settled in the three to five year period that is granted to the debtor.

If you are facing serious debt and need help, visit Chriscarouthers.com. This site offers a plethora of information to help people make a sound decision on hiring a lawyer. Call the office today to get started on learning what type of bankruptcy will be most beneficial for your financial needs. They will help you through every step of the process to ensure your debt is properly settled.

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