Streamline Your Debts with a Chapter 13 Bankruptcy Attorney in St. CharlesComments Off on Streamline Your Debts with a Chapter 13 Bankruptcy Attorney in St. Charles
When debts become overwhelming, it can be tempting to just hope that they go away – but we all know that isn’t going to happen. The longer that bills go unpaid, the more aggressive your creditors will become. Rather than risk losing it all and taking the chance of not being able to recover, consider seeking professional help. One of the optionjs available to you when your debt is no longer manageable is to file for bankruptcy. Filing bankruptcy can help you with such nondischargeable debts as student loans, overdue house payments and income taxes. A qualified Chapter 13 bankruptcy attorney in St. Charles can give you guidance on how to proceed.
Chapter 13 bankruptcy, also known as reorganization, can streamline your debts into a 3-5 year payment schedule. After your household expenses are paid each month, you can utilize your discretionary income (money left over after bills are paid) to pay on your monthly payments toward your bankruptcy plan.
Nondischargeable debts additionally include specific property taxes, child and spousal support, monies owed to the government, secured loans, fraud debts, retirement/pension loans, debts from some injuries or deaths and some homeowners’ or condo association fees or dues.
When you have taken the steps to file for Chapter 13 bankruptcy, creditors are limited in their options toward you. They will be unable to collect any money from you or pursue any collection activities against you and some late penalties and interest will not be accrued. This allows you to “catch up” on missed payments for vehicles or your home and you will be able to lower your monthly notes on credit cards, medical bills and personal loans.
Schedule a private consultation with a Chapter 13 bankruptcy attorney in St. Charles at Teague & Associates, LLC, by calling (314)899-4499. Our years of experience helping people from all walks of life and financial crises will be able to help you make a positive difference.