When one owes a debt they cannot pay, they will soon begin receiving phone calls, letters, and sometimes threats of court. These forms of communication can sometimes become excessive and can lead to great amounts of stress. Thankfully, there are options for stopping Debt Collections St. Charles MO. With bankruptcy, one can stop all forms of communication and collection, including repossession and foreclosure. Bankruptcy also gives a debtor a restructured payment plan so they can pay off their debts in a timely manner.
If debt collectors are becoming more than a person can handle, they would be wise to meet with a lawyer. A lawyer can discuss chapter 13 and how it can stop Debt Collections St. Charles MO. As long as a person does not exceed the secured and unsecured debt ceiling and has a regular monthly income, they can qualify for bankruptcy. A lawyer can help a person go through each stage they must progress through until their bankruptcy is decreed. Click here more details.
When a person begins the process of filing for chapter 13, they provide their lawyer with all of the names of the creditors they owe. These must all be listed on the bankruptcy paperwork so they will be sent orders to cease and desist any further collection activity. They are no longer allowed to call, write, or pursue foreclosure, repossession, or other Debt Collections St. Charles MO.
The period of a bankruptcy will last up to five years. During this time, a restructured payment plan is in place so the payments are more affordable and one can catch up on any debts they owe so they are current and no further collections will be pursued. It is important one carefully follows the restrictions of their bankruptcy so they do not have any trouble in the process.
If debt collectors are calling you more than friends and family are, it may be time to get help from a lawyer. Meeting with a lawyer about bankruptcy can allow you to better understand your options so you can overcome your debts. For more information on the process, contact the office of Van Dillen & Flood P.C.