When a person is going through a rough time financially, it may be that he or she simply needs to go through a program or an agency that offers debt relief. Debt relief can come in many ways, such as various types of bankruptcy, or taking classes on credit counseling to improve one’s approach towards his or her finances. A law office that offers Debt Relief in Greenbelt MD helps many clients get their financial plans back on track or either start over. Here is information about debt relief that clients may want to know.
Debt Relief Options to Consider
Everyone doesn’t know how to manage money properly, and as a result, may end up in a bad situation financially, such as facing foreclosure or having to file bankruptcy. If a person gets into a debt relief program early enough, he or she may avoid having to go through foreclosure, but bankruptcy might still be a necessary option to pursue. People generally file Chapter 7, Chapter 11 or Chapter 13 bankruptcy, although the first and the last are the two most widely selected. The first thing that will be done, however, is that a credit counseling course must be taken before filing any bankruptcy.
More on the Debt Relief Options
If the person is looking for a fresh start with his or her financial situation, the Chapter 7 bankruptcy is the way to go, if the individual can qualify for that. If that is the case, all unsecured debt will be erased, giving the debtor a fresh start essentially. The other bankruptcy that is chosen after that is the Chapter 13, which is simply a reorganization of the debt the debtor has.
Getting an Attorney to Help with Debt Relief
If a person is looking for Debt Relief in Greenbelt MD, the Law Office of Laura Margulies & Associates will provide options to help clients find that relief. Clients can get assistance with bankruptcies, foreclosures and other options for debt relief. There is no need for a person in financial trouble to worry when in need of Debt Relief in Greenbelt MD. The debtor can get more information by visiting the website.