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Hire Bankruptcy Attorneys in Wichita to Overcome Your Debt

Debt is something everyone must face at some point in their lives. Debts are often kept under control and properly managed but, sometimes, they can grow out of control. When a person suffers from a job loss or an injury or illness, they can easily fall behind on repaying debts. When this happens, the debt collectors may quickly begin using every available avenue to pursue their debtor for the money owed. This pursuit can lead to wage garnishments, property seizure, and court. To avoid all of the collection activity, it can be beneficial to hire Bankruptcy attorneys in Wichita.

When meeting with the Bankruptcy attorneys in Wichita, a person needs to make sure they have all of their financial information. Bills, income statements, and asset ownership all must be established through the attorney to determine what type of bankruptcy will be most beneficial for the person to file.

If a person has mostly unsecured debts like credit card bills, it would behoove them to consider filing for chapter 7. Chapter 7 allows a person to overcome their debt in less than six months so they do not have to be faced with further collection activity. If they own certain types of property, these may be used to pay down the debts through liquidation. If no non-essential property is owned, the court-appointed trustee has the power to forgive them of their debts.

Chapter 13 is a type that is primarily for those who have secured debts like homes and cars. This type of bankruptcy can allow a person to avoid foreclosure and repossession through an automated stay. Once the bankruptcy is in effect, the person will have three to five years to make payments through the court so their debts are paid. As long as they keep the payments current, no further action can be taken by creditors.

If you feel you are drowning in debt, you need to hire Bankruptcy attorneys in Wichita. Contact The Law Offices of Todd Allison and Sarah Newell. They will be glad to assist you with your debts so you can make the best bankruptcy choice for your financial needs. Call them today for your appointment to get started. You can also visit their Google+ page for more information.

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