Chapter 7 And Chapter 13: An Overview
Many people don’t know how easy the bankruptcy process really is. On your own, it may seem like there is too much to remember, too many hard terms to memorize and too many forms to fill out. With the right legal counsel, however, these ideas, terms and forms morph into simple steps toward financial progress.
The law office of Kristen A. Stanton, Attorney at Law, can help you take those steps. Let us simplify the process for you by explaining key terms and outlining your options. Serving the Defiance region and all of Northwest Ohio, we will help you learn as you make progress toward putting your finances back together.
Keep Your House And Car
When people file for Chapter 7 bankruptcy, they often worry that the trade-off to a clean slate is to give up all their assets, including their house and car. Our lawyer knows your options and will work with you to:
- Keep your car and house, an option many people don’t realize they have;
- Minimize or clear medical, credit card and personal loan debt;
- Discharge (clear) debts you may owe on unpaid utility bills.
Filing for Chapter 7 bankruptcy with our firm can give you a fresh start on your financial situation while protecting your assets.
Make A Payment Plan That Works For You
Many people don’t know that if you have a large amount of debt, creditors can contact your employer to have your wages garnished. This means that your monthly salary will be withheld to pay off your debts. Filing for Chapter 13 bankruptcy stops wage garnishment. It can also prevent your house from going into foreclosure and creditors from repossessing your belongings.
If you work a steady job that may not pay well enough to cover your debts, we can help you set up a payment plan that works for you and your job situation. With a Chapter 13 bankruptcy, we will help you make a financial plan with payments you can manage.