In order to understand how a bankruptcy lawyer in Valdosta area can help you it is important to first understand what bankruptcy is. Simply put it is you saying to the people you owe money to that you can’t afford to pay them the amount that they want. What you would like to do is to make payments that are on more favorable terms.
The Specifics of the Bankruptcy Process
While avoiding getting your assets liquidated you are putting forth a plan to pay an allotted amount of your debt out of money you may obtain in the future. This way your assets are protected from the people you owe money to while you are in the process of making payments to a trustee. It isn’t telling a company they won’t get their money, it is simply redefining how they get it.
Make Payments That Fit Your Life Better
When a new plan of payments is made it is often because you can get better terms. Things like a lower interest rate or reduced payments can all be considered in order to be able to pay off your debts without losing everything. This will allow you to meet your financial obligations while still being able have money left over every month for you and your family. If you have a regular income this will help you save money that can be put towards your home, car, or wherever else you feel it should go.
Have a Lawyer Working for You That Knows the Laws
While this seems like a fairly self-evident thing to say, it can’t be overstated on the importance of having an experienced lawyer on your side. Charles Farrell Attorney at Law has been working with bankruptcy laws since graduating law school in 1998. Talk to him today and find out about your rights and how to get out from under the crippling debt you are facing.