Difficult financial times can happen to anyone; even some of the largest corporations have suffered the consequences of recent severe economic downturns. It may be comforting to know that no matter how much debt you have incurred, you have a number of options regarding how you can deal with it, and an experienced Bankruptcy Lawyer Tipp City OH can explain what those options are.
There are debt consolidation plans that may have some appeal to you, but there can be issues you should be aware of; interest rates associated with some plans can still be fairly high, not all creditors agree to participate in these plans, and fees will be charged for these services. Depending on your specific circumstances, there may still be some merit in pursuing this course. During a free consultation an attorney can go over your situation and give you more information.
Where bankruptcy used to be regarded as the mark of an individual who was incapable of successfully managing his or her own finances, it is now accepted as a viable and sensible way to deal with an amount of debt which has become overwhelming and where there is no realistic expectation of the debt ever being paid off. These circumstances are exactly why bankruptcy laws were enacted to begin with. There are several different types of bankruptcy an individual can file, and your attorney will counsel you on which is best for you and your situation. No matter which form you decide upon, as soon as it has been filed, an automatic stay will be put in place which will prevent your creditors from harassing you with any more phone call, letters, or emails. The idea here is to give you and your attorney a period of time to put together a plan for your bankruptcy and go through all of the required proceedings.
Once your Bankruptcy Lawyer Tipp City OH has begun the bankruptcy proceedings he will bring to bear all of his experience and all of the resources of Shipman Dixon & Livingston Co. L.P.A. in order to ensure you that you receive the debt relief that you are entitled to under the law. Once you have declared bankruptcy you need to understand that your credit rating will drop considerably, but many individuals who go through this process have their credit rebuilt within three years.
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