Get the Guidance You Need with Chapter 13

by | Jul 2, 2024 | Legal

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You’ve spent your life accumulating the possessions you have. From your home to your cars, to your appliances and your furniture–you have worked hard to get what you have. If you are facing an overwhelming financial debt you could be facing asset liquidation. In that case, Chapter 13 may be the solution you need.

What Is Chapter 13?

Simply put, Chapter 13 is a method of protecting your assets from liquidation as you try and get your way out of mounting financial debts. This is done by forming a plan to tell your creditors that they will still get the money that you owe them, but you need to do it in a reduced monthly payment. You can restructure your debt in a way that your future payments may have a lower interest rate or even reduce the amount you owe. By going through this process with a Chapter 13 bankruptcy attorney in Valdosta, you can still meet your financial obligations to the people you owe, while still having money for your family at the end of the day.

Filing Chapter 13 Is Being Responsible

Filing Chapter 13 it isn’t you telling your creditors you won’t pay them, it is simply telling them you want to pay them in a way that is financially easier for you. This is not only being responsible to the people you owe money to but it allows you to keep your family obligations as well. You aren’t trying to avoid your obligations, you are simply meeting them in the best way you possibly can.

Hire a Lawyer That Cares

The Law Office of Charles Farrell, Jr. has been helping his clients navigate the complicated world of financial law since 1998. His experience and knowledge of the legal system offers his clients the best way to meet their financial obligations. Contact him today to learn about the different ways that you can get debt relief.