Excessive debt is not something that happens only to those who have lost their sources of income. Many different scenarios can lead otherwise financially sound individuals and families into dire economic straits. Serious illness or injury, divorce, or job loss or temporary layoff are just a few of the scenarios that can wreak financial havoc on families and individuals who may still have reasonable or even substantive sources of income.
Often in these situations what is needed is not an immediate liquidation of debt like in Chapter 7 bankruptcy. Rather, people need the breathing room to catch up on where they have fallen behind. Chapter 13 bankruptcy provides a three to five year repayment plan that is based on your expenses and income, which is designed to help you catch up on arrears and to discharge certain debt after you pay what you can afford over time.
This is especially useful when your home is threatened with foreclosure. The automatic stay that is part of Chapter 13 bankruptcy puts a halt to the foreclosure proceedings, and the repayment plan allows you to become current on your mortgage over a period of many months and possibly years.
Aho Law Office, P.A. knows how important it is to our clients that we do our job well. Individuals and families who are facing difficult debt situations need to know that there is someone who can help them understand the available options in order to secure the fresh start on their finances that they deserve.
We believe in educating our clients regarding the possible ways to achieve debt relief. An educated client is able to make decisions that are tailored to his or her individual circumstances so as to best begin the process of rebuilding his or her credit.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
If you are facing excessive debt, Chapter 13 bankruptcy can help you fight back. Let Bankruptcy Attorney, Brian Aho, work to help you begin building a solid foundation for the future. To schedule a free initial consultation, call (612) 271-4047 simply contact us online.