When debts become too numerous to pay, there are many actions a debt collector may take. Debtors who do not pay their debts may face wage garnishment. It is crucial people do not ignore their debts and do all they can to pay them off. If a person cannot pay their bills and their creditors will not make satisfactory arrangements, they may have the option to Stop Garnishments St. Charles MO. Contacting an attorney is the best method of learning about debt relief options.
Ignoring debt can cause a person to face wage garnishment and judgements. Facing debt head-on can allow relief to be found. If a person has done all they can do to free themselves of debt, the best option to Stop Garnishments St. Charles MO, is bankruptcy. Bankruptcy gives two different options to people who need help in paying their bills.
Chapter 7 is an option for debts that are unsecured. This is the fastest method of settling a person’s debt, but does have some drawbacks. An attorney can assist a client in understanding the requirements for filing this type of bankruptcy so they can make a wise decision on settling their debts. A person may be able to settle their debts in as few as six months if they receive help from an attorney. It will be up to the trustee over the case to determine what needs to be done to settle the debts as sensibly and quickly as possible.
Individuals may be able to settle their secured debts with Chapter 13 bankruptcy. This is the slowest option for settlement, but it does give debtors time to pay down their debts for up to five years. The period granted by the court will be determined by how much money the individual owes and how much income they make. Payments are structured to be more affordable, so the person has a chance to catch up and pay off debts. This is a beneficial method to help Stop Garnishments St. Charles MO.
Contacting the Law Offices of Steven K. Brown will allow people to learn more about these two types of bankruptcy so they can make a determination on which one will be most beneficial. Call the office today to schedule a consultation.