If you find that you are in deep financial trouble and want to protect your assets including your home and vehicle, the Columbus bankruptcy court may offer the solution you need. While bankruptcy is not an easy option, for some people it is the only way out from under a heavy load of debt. The option may allow you to get out from under the load of other bills so that you can reaffirm your home mortgage and prevent foreclosure.
Recent turns of events in the stock market have many people scrambling to cover their bills. Even if you did not have money invested in stocks or bonds, the market crashes along with the break of the housing bubble has caused many people to have reduced work schedules of to be laid off work for many months. Even with the help of unemployment, many people find themselves stretched too thin to meet all their commitments. If you find yourself in this situation, a Columbus bankruptcy attorney can help you to file the necessary paperwork.
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Columbus lawyers are experienced in dealing with the local bankruptcy courts. They can give you advice as to which properties you can save through filing bankruptcy as well as those that are likely to be lost during the process. Before deciding to file for bankruptcy, you will want to schedule a consultation with the attorney to determine if this is actually your best option.
Filing for bankruptcy in Columbus can have some serious consequences. During the time your bankruptcy is open, you will not be allowed to take on any more debt. This means that you must have sufficient income from work to make ends meet and cover expenses such as housing, transportation and food. The court will look at your income and assets to see what can be done to repay your debt. The bankruptcy administrator will order assets that are not protected to be sold and the proceeds to be divided among your creditors. If it is determined that you can make some payments after the bankruptcy is closed, you will continue to pay an amount determined to the court to be divided among the creditors.
During the time you are filing bankruptcy, you can cut down on collection calls by referring all callers to the office of your Columbus bankruptcy lawyer. The office of the lawyer will then supply the needed information to the creditor so that they know about your legal status. Referring the calls to the attorney should stop all those phone calls within a few weeks.
If your financial problems are beyond your ability to resolve on your own, the Columbus bankruptcy court is your legal way to take care of the debt. Resolving the debt quickly will allow you to begin rebuilding your life with a fresh start.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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