If you are in a distressful financial circumstance and are facing substantial consumer debt, it may be your best option to pursue bankruptcy. Chapter 7 bankruptcy allows you to have your debts discharged and therefore, forgiven. Through Chapter 7, your debts are liquidated and you are not held responsible for repayment. The other form of bankruptcy that allows you to have your debts discharged is Chapter 13. If you are faced with repossession, you can have those debts discharged after your repayment plan has concluded, generally between three to five years. After that time period has ended, you will be free of your debt.
It is essential to make sure you know the differences in your options and how each can help you discharge your debts. One of the primary benefits of bankruptcy is having your debts discharged. Understanding how and when your debts are discharged in the various forms of bankruptcy is also essential. If you are considering filing for bankruptcy for the purpose of having your substantial debts discharged, please feel free to consult with a Charlotte bankruptcy lawyer from our firm. We can help you understand your options and what might be best for your situation.
At the Law Office of Jack G. Lezman, P.A., we have more than 15 years of experience helping clients in the process of discharging their debts. Our goal is to help you achieve freedom from the overwhelming debts that undoubtedly affect your life. During an initial case evaluation, we can assess your personal financial circumstance. Your situation requires an individual strategy based on your specific needs and desires. It is important to obtain as much information as possible to know how bankruptcy can affect your life. Contact our firm to begin discussing your situation. Call today!