People have choices in life — and sometimes they must make a sacrifice in order to move forward. That’s the case with Chapter 13 bankruptcy. You can enjoy certain benefits from filing, but it will negatively impact your credit.
If
you believe the impact on your credit is worth it and you’ve done
your research and want to file for Chapter 13 bankruptcy, it’s best
to hire an attorney. Here are some key benefits of doing so:
High
Return on Investment
The
cost of filing for Chapter 13 bankruptcy varies by area, but you’ll
generally pay your Chapter 13 Bankruptcy Tampa legal firm between
$500 and $1,500. This is money well spent if you can lower your
monthly living expenses and get a handle on your debt
situation.
Lower Bills
Chapter 13 is referred to as “wage earners’” bankruptcy. It allows you to consolidate your debts based on your income. It can enable you to avoid foreclosure on your bank or repossession of your car or even avoid paying high interest rates on credit cards.
You
spread the amount you owe on debts across three to five years and are
able to work toward paying down your debt in that time frame. This
means you’ll remove the burden of having to pay everything to
everyone all at one time.
Relieve Stress
Knowing you have a highly experienced Chapter 13 Bankruptcy Tampa attorney on your side can help relieve your stress and worries. Instead of struggling to pay your mounting bills, your attorney will help you organize your debt and make it manageable.
Representation in Court
When you file for Chapter 13 bankruptcy you’ll be required to attend a court hearing. Your attorney attends the hearing with you and will provide moral support and ensure you are treated fairly. Your attorney also files your documents with the bankruptcy, ensuring everything is completed in a timely manner.
