Debt can cause a person to experience great amounts of stress. As their wages are garnished, and they are taken to court for civil action, it can be difficult to deal with. Instead of trying to ignore debt collection activity, it is crucial a person faces the debt head on and does all they can to avoid further collection actions. Though there are many ways a person can overcome their debt, one of the most effective can be found through the help of attorneys in Chandler, AZ. With the help of an attorney, a person can learn more about their options for filing for bankruptcy.
There are a couple of different options a person has for filing for bankruptcy. The type that will be most beneficial will depend on what types of debt a person owes, how much they make and what property is owned. Chapter 7 bankruptcy is available for those who have unsecured debts. This type of debt includes credit cards, medical bills and other forms of debt that are not tied to any property. When a person files for chapter 7, they can have their debts settled in as few as six months. Once a court-appointed trustee is put over the case, property can be sold to pay down the debts and the trustee can absolve much of the debt.
Through the attorneys in Chandler, AZ, people also have the opportunity of filing for chapter 13 bankruptcy. Chapter 13 allows a person to settle their secured debts like their mortgage, car payments and debts tied to the property. This type of bankruptcy can stop the foreclosure process and prevent repossession. The court decides how long a person will have to pay down their debts. Typically, a person is given two to five years to make payments through the court so their debt is paid off.
To learn more about the options of bankruptcy, visit Azdebtfree.com. This site is full of information on the different types of bankruptcies and their benefits. Once the information has been reviewed, schedule an appointment with the attorney and learn how they can help a person through the process of overcoming their debt through bankruptcy.
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