How does discharging your debt work?
If you are facing extreme amounts of consumer debt, the best option you may have for achieving relief may be discharging your debt by filing for bankruptcy under Chapter 7. This means that your debts will be entirely forgiven, and you will no longer be held responsible for their repayment. Another means of discharging your debt is by filing for Chapter 13 bankruptcy, which is a common option for those faced with foreclosure or repossession of their home. Chapter 13 allows a debtor repay most or all of their debts over the course of three to five years. After that time, the remainder of their debt is discharged and the individual is free of debt.
Which bankruptcy option is best for me?
There are many benefits of bankruptcy, though it is not necessarily the best course of action for everyone. It is also important to note that there are important differences between Chapter 7 and Chapter 13, which means that anyone thinking about bankruptcy should consult with a Marietta bankruptcy lawyer right away to discuss their options.
If your debt is consumer-based or if a means test has proven you incapable of repaying your debts, you may benefit best from filing under Chapter 7. Should you have a steady income and you are financially able to make affordable payments on your debt or loans, you might instead file for Chapter 13 bankruptcy. There are also alternatives to bankruptcy, such as debt negotiation and debt settlement, so contact Cherney Law Firm LLC.
Get the Help You Deserve
Since 2006, I have represented individuals in bankruptcy cases and have helped them achieve relief from overwhelming debts. From your initial consultation to the completion of your case, I will keep you informed and guide you through each step of the legal process. With the counsel and representation of Cherney Law Firm LLC, you may be able to have your debts discharged.Call today to get started!