3 Reasons Why You Should Hire A Chapter 13 Bankruptcy Attorney

It doesn't take much for people's finances to go out of control

. A few bad financial decisions and that's enough to fall behind on important bill payments. Should the situation get serious, the person's property could be in jeopardy. If you are facing the same situation, hiring a Chapter 13 bankruptcy attorney is a good idea to get you through this difficult time.

How a Chapter 13 Bankruptcy Attorney Can Help

If you are in need of a Chapter 13 bankruptcy attorney, Chattanooga TN can offer you a number of options. However, it is important that you hire someone with adequate knowledge and experience. Doing so can help you in a number of ways.

Adjust Debts

One of the main benefits of hiring a Chapter 13 bankruptcy attorney is to help adjust debts. An attorney work outs a way to repay debts over a period of time while helping you retain your property. This repayment is usually set up for those with regular income and lasts for about 3-5 years.

Suitable Repayment Plan

To ensure that all debtors are paid on time in a way that is appropriate for you, a Chapter 13 bankruptcy attorney devises a suitable repayment plan. The maximum time frame for paying of your debts is 5 years. During this time, the plan can either cover part or all of your debts, depending on your monthly income and expenses and debts.

Prevents Foreclosure Proceedings

Another benefit obtained from hiring a Chapter 13 bankruptcy attorney is that it can stop foreclosure proceedings. This is done because the attorney usually comes up with a repayment plan which includes monthly payment for mortgages. The mortgage is paid all through the Chapter 13 bankruptcy plan and eliminates delinquent payments on mortgage.

Although these benefits make it necessary to hire a knowledgeable Chapter 13 bankruptcy attorney in Chattanooga TN, it is important that you select a suitable attorney. Ask friends and family for recommendations, check the attorney's background and hold a personal interview to ensure the attorney can help your case.

3 Reasons Why You Should Hire A Chapter 13 Bankruptcy Attorney

By: Kathleen Chester

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