Most people have experienced some sort of financial difficulty at some point. However, in certain situations, the significance of these financial difficulties may require the help of a legal professional. That’s why, when people are looking for financial help from Law Services in Garden City KS, such as filing for bankruptcy, there are a few things that will need to be taken into account.
Visiting a law firm in Garden City that handles bankruptcy is typically the first step. Perhaps the individual had already considered the possibility of bankruptcy. Meeting with a lawyer that handles bankruptcy can be very helpful in terms of determining whether bankruptcy is the right option. In some cases, bankruptcy is the only thing left to do to salvage a person’s finances. However, there may be other options.
What most people will find is that law firms like The Law Offices of Todd Allison and Sarah Newell not only help individuals filing for bankruptcy, they can also help with credit and debt counseling. In these situations, the attorneys will work with their clients to create a customized repayment plan. In many cases, the attorneys will contact the creditors on their client’s behalf to work out payment arrangements. In addition, the attorney may inquire to see if amounts owed can be lowered or if interest rates can be lowered to make repayment easier and quicker.
If bankruptcy is the only option, then it will be important for the attorney to advise the client on which type of bankruptcy best suits the situation. For most people, Chapter 7, which discharges a great majority of the debts an individual has accumulated, is the best option. However, because of some people’s desire to repay their debts, or because of income restrictions, Chapter 13 bankruptcy may be in order. Chapter 13 bankruptcy requires the debtor to come to an agreement with his or her creditors regarding a repayment plan.
As you can see, there are a number of benefits to visiting Law Services in Garden City KS, that deal with finances. Whether it’s creating a repayment plan or filing for bankruptcy with the courts, visiting an attorney is the first step in determining the right course of action. You can also visit them on Google+ for more information.