For those in the Royal Palm Beach area seeking out assistance with chapter 13 bankruptcy, your best bet is to reach out to an attorney. Before you contact a chapter 13 bankruptcy attorney in Royal Palm Beach, however, there are a few things that you should know:
Chapter 13 Bankruptcy Will Help You to Adjust Debts
One thing that people don’t understand about a chapter 13 bankruptcy is that you will still keep your debts in this situation, they will just be adjusted in a way that allows you to pay. This is different than a chapter 7 bankruptcy where you debts are eliminated. With this option, you will be able to keep your home and vehicle and have several years to pay off what you owe. This is a great option for those with a regular income who have simply found themselves in over their heads.
A Chapter 13 Bankruptcy Attorney Will Help You Every Step of the Way
Another thing that you should know before starting this process is that a chapter 13 bankruptcy attorney in Royal Palm Beach will help you as you go through this process. Remember, these people have the training and experience that is needed to handle all situations when it comes to this type of bankruptcy. They will do everything from answer any questions you have and explaining the process to helping negotiate payment plans with your creditors. They are certainly as asset to anyone facing chapter 13 bankruptcy.
You Can Stop a Foreclosure With a Chapter 13 Bankruptcy
You should also know, especially if you are facing one, that a chapter 13 bankruptcy can also stop a foreclosure. Keep in mind, however, that you will still need to make your monthly payments on time as part of your bankruptcy plan, but you can eliminate the delinquent payments that have built up over time and have a fresh start on your mortgage.
You Will Need to Get Credit Counseling With a Chapter 13 Bankruptcy
Finally, you should know that you will need to get credit counseling as a term of your chapter 13 bankruptcy. This is not optional and should actually be seen as a good thing. It will give you the knowledge to handle your finances in the future.
If you are interested in learning more about a chapter 13 bankruptcy, make sure to contact a reputable attorney in the Royal Palm Beach area, today.
When looking for a chapter 13 bankruptcy attorney in Royal Palm Beach, please contact the Law Offices Of Sean I. Koplow.
