If the phone is ringing all day with calls from bill collectors and the mail is full of past due notices, all you may want to do is hide your head in the sand and make it all go away. Of course, that won’t work. It won’t go away without action on your part. Though it may be hard to think about, if you are in over your head financially and have no way to get back out, short of a miracle, you may need to speak to a Bankruptcy Lawyer in Prince George’s County, MD. You might not want to consider bankruptcy, but if most of your debts are unsecured, such as credit cards, bankruptcy may be the best option to help you get out of debt quickly and back on your feet.
If you are considering bankruptcy, find a lawyer you can speak with. If you aren’t comfortable asking family, friends or neighbors for recommendations, you can find a bankruptcy attorney online, in the phone book, or even from a legal aid referral group. Make an appointment for a consultation. Be certain that you are comfortable with the attorney when you go in for the consultation. You’ll be working closely with him during your case, discussing personal matters. It’s important you feel comfortable doing this with him. If you don’t have a good feeling, try a different attorney. You’ll eventually find the right one and you’ll know when you do.
Depending on your debts, assets and ability to repay, your attorney will recommend either a Chapter 7 or Chapter 13 Bankruptcy. A Chapter 7 is for someone with no assets to speak of and no clear cut way to repay their debts. The debts are discharged through the court and you begin again, debt free. A Chapter 13 Bankruptcy is for someone who does have some assets they’d like to keep and has an ability to repay some of their debt. The debtor will be appointed a trustee that they will make monthly payments to for a pre determined amount of time – usually 3 – 5 years. When the payments are complete, the remaining debts are discharged.
Bankruptcy is something you may not want to do, but at times, it’s the only way to get back on your feet, financially. A bankruptcy will help you to start fresh and let you get the debt relief you need now, to do it.