Keyword-bankruptcy lawyer Las Vegas
Facing unmanageable debt can be a daunting experience especially with the difficult financial times. Trying to negotiate with creditors may be difficult, not to mention that some would want to repossess any item you have. Fortunately, you do not have to suffer in silence. A bankruptcy lawyer Las Vegas can help you.
There are different options that one can use to settle debt. Debt consolidation, debt settlement and bankruptcy are some common ways you can relieve debt.
Debt consolidation is a part of debt settlement where an agency advises consumers to stop paying their credit card debt. As a consumer, you need to sign an automatic bank withdrawal authorization where the …show more content…
Nonetheless, your eligibility for chapter 7 is determined by your assets and income. This means that not everyone who wants to file for chapter 7 is able to do …show more content…
Debts are reorganized and can be reduced for you to pay over a period of 3-5 years. While most people think of chapter 13 as a plan for repaying all your debt, in reality this type of bankruptcy can deliver great savings compared to chapter 7.
Some of the benefits of filing for bankruptcy include:
Stopping wage garnishment-Filing a bankruptcy petition stops any wage garnishment. This order is automatic once you file for bankruptcy. In a case where the creditor continues wage garnishment, he must pay the money back immediately.
Stop repossession-If you are facing a repossession of any kind, a bankruptcy attorney can help you protect your property. An automatic stay can stop creditors from taking any further action against you.
Avoid foreclosure-facing foreclosure of your home can be traumatizing. A bankruptcy attorney can help you get caught up on the mortgage. You could end up paying back your mortgage delinquency over a 5 year period at 0% interest rate.
Handling debt on your own doesn’t have to be complex and daunting. Contact an experienced debt law firm to know what your options are and learn more on how to settle your debts without being