Whenever you are facing a legal process, whether you will need to attend court or not, you’re going to want to hire a lawyer for you. The legal field can be confusing to someone who does not work with it every day, and most legal documents have to be filled out exactly right in order to be valid. By hiring a Lawyer in Topeka KS, you are making sure that you have all the paperwork you need completed correctly and according to the law. One place this can be vital is when dealing with the possibility of bankruptcy.
Bankruptcy is where you petition the court for help getting your finances back in order. In general, most people file for either Chapter 13 or Chapter 7 bankruptcy. When it is necessary for you to file bankruptcy, a lawyer can help you decide which type of bankruptcy fits with your debts and current income. Once they have helped you figure out which one is right for you, they will help you file the bankruptcy.
When you file bankruptcy, there are generally two different outcomes. In one case, your debts will be frozen by the judge and a payment plan will be created so that you can pay them all off. Usually, this takes between three to five years, and then your debts will be fulfilled by the payments you have made. If you are unable to create a payment plan, you may be able to sell your assets in order to pay for your debts. This can include a vacation home, a car besides the one you use for work, a boat, or anything else you have of value. In most cases, you will not have to give up your every day home or the car you typically drive, as these are considered necessities so you can continue to work and repay your debts.
If you’re interested in learning more about bankruptcy, you can discover this info here. After learning more, if you decide that you would like to speak with someone about filing bankruptcy, you should speak with a Lawyer in Topeka KS. They can walk you through the bankruptcy options that would be best for you based on your current financial situation, and help you with the paperwork so that it is legally sound and you stand a higher chance of being able to do the bankruptcy.
