Most people don’t want to admit they need help with their finances. After all, they’re a grown adult and should be able to handle their finances on their own. Often, however, unexpected problems can make it extremely difficult for a person to pay off all of their debts, and that doesn’t mean they’re bad at their finances or anything else. This is especially true if the person has had a medical emergency with a high amount of medical bills or if they were laid off from their job and had trouble finding a new job. Many times, these situations can leave a person far in debt, and they may not be able to get out of it on their own.
If this happens, the person should speak with an attorney about bankruptcy. While it is usually a last option, it can be something that will help the person get out of debt. If their income is high enough, they may qualify for Chapter 13 Bankruptcy in Indianapolis IN. In this chapter of bankruptcy, they will be able to consolidate their loans into one monthly payment. This allows them to make the payments to completely pay off their debts in three to five years. While the bankruptcy will stay on their credit history for at least a few years, it does give them a clean start.
When a person is attempting Chapter 13 Bankruptcy in Indianapolis IN, it’s recommended they hire a lawyer to help them. The lawyer may be able to have some of their debts erased or negotiated to a smaller amount. They will also handle any calls from creditors, which means the person doesn’t have to worry about being called at home. The lawyer will also ensure everything works smoothly so the bankruptcy process takes as little time as possible to complete.
If you’re struggling with your debts, you may want to consider talking with an attorney about filing for bankruptcy. It may be just the right way to get out from under your debt and get your finances back in order. If you’re in need of a lawyer, you may want to Contact The Wright Law Group of Indianapolis and set up a consultation visit. This way, you can learn more about the bankruptcy process and find out if it’s the right option for you.
