If you are feeling stressed and overwhelmed by having too many debts to repay, there are options available to help you. A debt settlement attorney Arnold MO homeowners need can provide the guidance and assistance that can make a difference. Understanding the process of working with a debt settlement attorney can assist you in getting out of debt and rebuilding your financial life.
How to settle old debts
You can settle old debts through the legal vehicle of bankruptcy. You can file either Chapter 7 bankruptcy or Chapter 13 bankruptcy and settle past debts without having to repay them all at once. In Chapter 7 bankruptcy, unsecured debts will be discharged while in Chapter 13 bankruptcy, the debts will be repaid over a period of time between 3 to 5 years. By examining your options with a debt settlement attorney, Arnold. MO debtors can get much needed help with restructuring their debt through repayment plans.
Which debts can be paid off in bankruptcy
As a general rule, the debts that can be repaid in bankruptcy include unsecured debts. These unsecured debts can include credit card debts, major medical bills, old utility bills, cell phones, taxes, and overdrawn bank accounts. You can consult with a debt settlement attorney Arnold MO law office to get the help you need.
What debts can’t be settled
Understanding what debts can and can’t be settled in a bankruptcy can assist you with being clear on the process as it unfolds. Some of the debts which can’t be settled include personal injury settlements, student loan repayment amounts, and debt caused by fraud or unfiled tax returns.
A qualified and experienced attorney can help you with understanding how to get rid of old debts and settle your current debts effectively. When you choose to be proactive about your finances, you have a better chance of getting the right results.
The Bankruptcy Law Firm of Sean C. Paul offers experienced assistance from a debt settlement attorney in Arnold, MO. Visit us online to learn more information at Stlbankruptcyfirm.com.
