People who are struggling financially and getting overwhelmed with debt tend to wait a long time before consulting a Bankruptcy Lawyer in Sumner WA. Most men and women see this as a last resort that they want to avoid no matter what, but eventually they have little choice left. Financial experts encourage people to schedule a free appointment with one of these attorneys before everything becomes so dire, at least to consider the options.
When to Consult a Bankruptcy Lawyer
When is a reasonable time to contact a Bankruptcy Lawyer in Sumner WA for that consultation? It’s advisable as soon as the person starts getting behind on several payment obligations and cannot see a practical way to get caught up. That doesn’t mean this individual must file for bankruptcy then and there, but instead can receive information to mull over while considering how to proceed.
If the person is staring at several unpaid bills each month, and especially if collections activity has begun, it makes sense to talk with a bankruptcy attorney even if this individual is determined to manage this problem in a different way. As the situation continues to spiral out of control, the man or woman may be facing having a vehicle repossessed, getting evicted or receiving a notice of foreclosure, and having a credit card company threaten a lawsuit.
Chapter 13 Protection
Filing for Chapter 13 protection can help the person keep a vehicle at risk of repossession and avoid foreclosure. A payment arrangement is set up in which overdue amounts on credit cards and other debts are spread out over an agreed-upon time frame. The person must keep up with those payments as well as current obligations.
It’s important to remember that filing for bankruptcy with the help of a lawyer such as Kevin G. Byrd is intended to protect people, not to punish them. As soon as the document is filed with the court, creditors are required by law to cease collections activity. That can be a big stress relief moment when the seemingly endless phone calls stop and the person has the chance to think more clearly.
