Debt can quickly take over and cause a person to feel completely overwhelmed. The stress of constant collection calls and letters can take their toll. Thankfully, individuals do have the right to pursue bankruptcy to legally overcome their debt. Getting help from the Chapter 13 Bankruptcy Attorney in Kingsport TN will help to ensure the individual takes the right steps towards freeing themselves of the debts they owe.
What Should Individuals Know About Chapter 13?
Chapter 13 is a type of bankruptcy that is often referred to as the “wage earner’s” bankruptcy. In this type, the individual must prove they have a reliable income coming in each month. The attorney will help their client to draw up a structured payment plan so it can be submitted to the courts.
The judge will decide if the structured payment plan is approved. If approved, the bankruptcy will be granted and the individual will be required to make a single payment to the court each month. This amount will be distributed among the creditors that are owed by the individual. Individuals are given three to five years to pay off the debt they owe, depending on how much debt they owe and their income.
How Will an Attorney Help?
When an attorney is hired for bankruptcy, they immediately go to work on ensuring their client qualifies. The Chapter 13 Bankruptcy Attorney in Kingsport TN will take over all the paperwork and the steps involved in pursuing the bankruptcy.
Getting help from an attorney makes the process much easier to go through and helps individuals to have peace of mind in knowing their case is in good hands. With the help of the attorney and the bankruptcy process, the creditors will be forced to cease and desist so they can no longer pursue the individual for the debts owed.
If creditors are calling you on a daily basis and the stress is rising, Chapter 13 may be right for you. For more information, Browse Deangreer.com. Call the office today if you would like to schedule a consultation. They will help you every step of the way to overcome your debt.