Chapter 13 Debt Consolidation
Mobile Debt Settlement Attorney
Are you thinking about declaring bankruptcy? If so, there are a number of factors that you need to keep in mind. The first is that you should never make this step without the aid and counsel of expert Mobile AL debt attorneys. Declaring bankruptcy is a very complex process that will require legal aid for you to navigate successfully through.
What is Chapter 13 Bankruptcy?
Chapter 13 is a type of bankruptcy that is occasionally referred to as the “debt consolidation.” You can file for this type of bankruptcy if you intend to keep all of your non-exempt property.
The only way to do so will be to show that you intend to work on paying your debts over a specified period of time. The major benefit that comes with this type of bankruptcy is that, if you qualify, you will be able to pay back these debts at a fraction of what you are currently paying.
How Can You Qualify for Chapter 13 Debt Consolidation?
You will be able to apply for Chapter 13 Debt Consolidation by meeting a number of requirements. You will need to show that you have a predictable and sufficient amount of income available to cover all of your living expenses. You will also need to be able to show that you have a reasonable amount of money left over with which you can proceed to pay off your existing debts.
Contact the Loris Law Firm for More Information
Bankruptcy is a serious issue that you should take very seriously. It’s a good idea to discuss the matter with a firm of expert Mobile AL debt attorneys before you make your decision. Get in touch with the Loris Law Firm today to learn more about how we can get you successfully through your Chapter 13 Debt Consolidation proceedings.