Everyone deals with debt in their way. Even when a person makes wise choices to keep their debt under control, unexpected situations can arise. When someone is dealing with more debt than they can handle, it is important they understand their legal options. Scheduling a consultation with the Joseph I Wittman Attorney at Law helps individuals to learn more about their bankruptcy options so they can make a wise choice for their financial needs.
What to Expect From the Consultation
The consultation meeting allows individuals to bring in information on the debts they owe, their income, and their assets. This information is crucial for allowing the lawyer to determine if the client is a good candidate for bankruptcy and which type will benefit them the most.
It is crucial a person brings in the last two years of tax returns, bank statements, and information on assets and debts. The more financial records a person can provide, the better equipped their lawyer will be to help them.
Once the lawyer has checked all the records and asked questions of their client, they will be able to offer the right type of bankruptcy. Choosing the right bankruptcy is paramount for overcoming debt.
Which Bankruptcy Should You Choose?
Individuals and couples have two different options when it comes to overcoming their debt. The first type, Chapter 7, is primarily for those with unsecured debts, such as credit card bills. The person applying must pass mean’s testing to ensure their income is below the median income in their state. They must also surrender some types of assets to be liquidated to pay off the debt they owe.
The Joseph I Wittman Attorney at Law also offers clients the option of filing for Chapter 13. With this type of bankruptcy, homeowners can avoid the foreclosure of their home and be given three to five years to pay off the debts they owe via a monthly payment.
If you feel like you are in over your head with debt, there is legal help to be found. To learn more about your options, Browse the Website. Call today so your appointment can be scheduled right away.
