Bankruptcy And Repossession Lawyer In Wichita
If you are considering bankruptcy, chances are you may also be facing repossession of a vehicle, furniture or other property that serves as collateral for a loan. Missing payments or defaulting on a loan generally gives the lender the right to start a repossession proceeding.
Likewise, your wages may also be subject to garnishment for outstanding judgments due to unpaid debts. Few financial circumstances are more stressful that losing your income.
The Benefits Of Bankruptcy
Bankruptcy can help you get rid of overwhelming debts. Both Chapter 7 and 13 are designed to help people like you obtain a fresh start.
There are many concrete and immediate benefits to filing bankruptcy. For example, as soon as you file, all of the following must come to an immediate halt while the bankruptcy proceeding is underway:
- Repossession efforts
- Collection efforts
- Wage garnishment
- Creditor harassment
- Pending foreclosure proceedings
Thus, bankruptcy will give you the space you need to eliminate unpayable debts and achieve financial stability.
Can You Keep Your Car And Property?
Filing bankruptcy gives you options. Depending on the type of bankruptcy you pursue, you may be able to keep your car and other secured property. Some of these options for keeping your property include:
- Rolling past-due payments into a manageable payment plan through Chapter 13 bankruptcy
- Reducing the loan amount to reflect the current value of your car or property
- Paying the present-day value of the car or property to gain full ownership over it
- Reaffirming the loan in order to avoid default and repossession
How We Can Help
Despite the many benefits of bankruptcy, it is a major step in life that should not be entered into lightly. Everyone has unique circumstances that should be taken into account when determining which option to pursue. The first step, however, is to consult with an experienced bankruptcy attorney.
At The Law Offices of Michael J. Studtmann, P.A., our bankruptcy and repossession attorney in Wichita has nearly 30 years of experience. Our firm has developed a smooth and streamlined approach to make the process as stress-free and hassle-free as possible.
Bankruptcy And Wage Garnishment Attorney · Serving Hays, Dodge City And Western/Central Kansas
We offer free initial consultations. You have nothing to lose by exploring your options. Contact our firm at 316-854-2037 or toll free at 888-761-7087 to meet with a bankruptcy lawyer about your financial situation.
Internet conferencing appointments are available for your convenience. Our firm offers flexible payment plans.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.