Most adults pride themselves on making independent decisions about things like how to spend their money. If you’re in serious financial trouble, though, it may not be a good time to depend on your own knowledge alone. The laws that determine what options are available to you can be very complicated. It’s difficult for the average person to grasp them under the best circumstances, let alone when faced with the stress of being hounded by creditors or threatened with foreclosure. One thing that you can do in this situation is to seek out a Bankruptcy Attorney who can give you an objective opinion on your situation and what you should do next.
Bankruptcy is an option that can allow you to get your debt situation settled so that you can move forward with your life. Depending on your exact situation, you may be able to have a portion of your debts discharged entirely. On the other hand, you might be put onto a payment plan for several years, after which all of the money that you owed will be considered settled in full. Either way, it’s a means of putting yourself on track to resolve the situation so that you can move on to building a new and better financial future for yourself.
The problem with trying to assess your options on your own is that determining eligibility can be quite complicated. It depends on how much you make, how much you owe, and how much you have. In addition to these basic factors, though, the values need to be modified depending on what the law says about which items can be included and excluded. For example, it is rarely possible to deal with student loan debt through bankruptcy proceedings. On the other hand, a Bankruptcy Attorney may reveal to you that you’re eligible for more than you expected, because assets like retirement funds are generally protected.
Sean C. Paul Attorney at Law has helped hundreds of families in the St. Louis area with their financial and bankruptcy concerns over the last several years. He offers a risk-free consultation in which he looks at your situation and gives you his initial impressions, so that you can speak to him and get a sense of what you’re probably facing before you decide whether you want to spend money on retaining a lawyer.
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