Helping You Through Tough Decisions: Working With A Chapter 13 Bankruptcy Lawyer In Montgomery, AL

Without question, making the decision to file bankruptcy is one that should never be entered into lightly. Depending on your financial situation there are several optional methods of filing. For some, choosing to ‘start fresh’ means letting go all debts owed, but more and more often people who find themselves with insurmountably high debt have also struggled to keep some bills tended to. For those who own property they have been able to keep current, such as a home or vehicle, considering the proper bankruptcy option can help wipe their financial slate clean without forcing them out of the home they have worked so hard to keep. When looking for a Chapter 13 bankruptcy lawyer in Montgomery, AL has several to choose from. Taking the time to hire legal representation will prove helpful when deciding to file for bankruptcy.

Like other bankruptcy types, filing for Chapter 13 has several reasons to consider it. Much like the more traditional Chapter 7, the mere act of filing bankruptcy forces any and all creditors to halt contact. This is often the most dramatic change for those who have found themselves with no choice but to file for bankruptcy. Chapter 13 is considered a ‘reorganization’ bankruptcy, as some components of the filing person’s financial obligations – their secured debts such as car loans and mortgages – are not removed and must be repaid. Any ‘secured’ debts, those backed with tangible collateral like vehicles and property, must be repaid under Chapter 13 laws. In addition to the repayment of all secure debts, debts considered ‘priority debts’ like child support or alimony payments must also be paid in full. Things such as credit card debt, the ‘unsecured’ debts that often lead people to filing for bankruptcy in the first place, will be paid to a degree when Chapter 13 is the route a person takes.

The Chapter 13 Bankruptcy Lawyer Montgomery, AL residents chose to work with will review their individual situation and all options before choosing to move forward with filing. Bankruptcy laws are constantly changing and there can easily be a tricky slope without proper legal representation. Choosing the right filing for your situation is crucial and with the guidance of those who deal with Chapter 13 Relief Montgomery, AL and elsewhere you will rest easy knowing you are on the right path to recovery. Click here for more information.

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