Clayton Bankruptcy Lawyers
There is bankruptcy legislation in place to help individuals who are deeply in debt and have financial difficulties. While the thought of filing bankruptcy may be overwhelming, you will receive some relief almost immediately. When you get behind with creditors, you may feel many emotions, including shame and fear. The good news is, you have options.
A seasoned bankruptcy lawyer in Clayton can assist you with the filing process and help you get your finances in order. Contact our Clayton bankruptcy lawyers to schedule a meeting if you are behind with your bills and in debt.
Bankruptcy Areas of Law in Clayton:
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Clayton Bankruptcy Law Q&A
How long is the bankruptcy process?
For chapter 7 bankruptcy, the process takes four to six months from when you file until discharge. A chapter 13 bankruptcy takes from three to five years.
What is the difference between a chapter 7 and a chapter 13 bankruptcy?
Chapter 7 bankruptcy is the best option if you meet the eligibility requirements. The process is quick, and you don’t pay back creditors, making it cheaper than filing chapter 13. However, you must meet salary requirements to qualify. If you have an expensive home, car, or luxury items, you may have to surrender them for chapter 7 bankruptcy eligibility.
For the chapter 13 bankruptcy, you and your bankruptcy attorney in Clayton will work out a three to five-year payment plan to pay off your debt. The benefits of filing a chapter 13 include getting to keep all of your property. However, many who try this option have difficulty making their monthly payments. Chapter 13 payment plans generally have relatively high monthly payment amounts.
What fees will I pay if I file bankruptcy?
The fees will depend on whether you are filing a chapter 7 or chapter 13 bankruptcy. There are two categories of fees for filing bankruptcy: court costs and attorney fees. The court charges $335 to file a chapter 7 and $310 to file a chapter 13 bankruptcy. A knowledgeable Clayton bankruptcy attorney could go over the attorney’s fees and the total amounts you will pay during the consultation.
Get in Touch With Your Clayton Bankruptcy Lawyers Today
Getting behind with your bills is highly stressful. The stress can feel overpowering when bill collectors are calling you every day and night. Filing bankruptcy will alleviate some of that stress almost immediately. After you file and alert debt collectors, the law will prevent them from calling or sending any mailings while you complete the process.
A Clayton bankruptcy attorney will help you go through your finances and formulate the best plan of action in your situation. If you are behind with bills and considering filing for relief, contact our experienced Clayton bankruptcy lawyers to schedule a free consultation.