When you’re overwhelmed by debts and received calls from creditors daily, you may be afraid that you will soon face a foreclosure on your home or have your car repossessed. It’s stressful for everyone involved to be in this position, but there may be a way out by filing for bankruptcy. There are different chapters of bankruptcy, and a Chapter 7 bankruptcy attorney Valdosta may be the one you should look into if you are below the median income for your state. One of the Chapter 7 Bankruptcy Attorneys Valdosta will be able to let you know if you qualify and, if so, there are a few different things they can help you with.
Filing for the Bankruptcy
A bankruptcy includes a lot of paperwork and all of it must be filled out without any mistakes and filed on time. An attorney will have the necessary experience to make sure the filing goes smoothly so that there is a much smaller chance of your bankruptcy being declined.
Freezing Your Assets
Once the beginning paperwork is filed, your attorney will freeze your assets. This means that the creditors cannot take them to repay the debts, and you can’t sell them either. The assets will all be delt with during the divorce and any non-essential assets will be used to pay your creditors. Essential assets include your home and car.
Handling Calls From Creditors
During the bankruptcy process, you will not have to handle any calls from creditors. Your attorney will speak with all of them for you to be sure that everything is being handled legally and appropriately. If a debt collector does call you, all you will need to do is refer them to your attorney.
After the bankruptcy has been approved, a trustee will sell all of your non-essential assets. The money from the sales will be given to the creditors, and you will no longer owe them money. If you’re receiving debt collector calls daily and are worried about losing your home or car, call one of the Chapter 7 Bankruptcy Attorneys in Valdosta today to see if you qualify and how they can help you become debt free again. For more details visit us today at charlesfarrelllaw.com.