About Magazines Covington to Madison - May 2017 | Page 11

BUILD A BRIGHTER
FUTURE WITH LESS
FINANCIAL STRESS
A
re you stressed from
finances? Having too
much debt can be
overwhelming and the
slightest change can dig
you further into a hole.
You get harassing calls, embarrassing
letters, and may be nearing repossession
or foreclosure. There is constant worry of
creditor action that can disrupt various
aspects of your life.
The good news is that you have options
such as consolidating your debt so that
you have payments that are affordable
or starting over after liquidating your
assets. The United States Bankruptcy
Code was enacted to protect consumers
whose finances are out of control, often
due to circumstances like job loss, divorce,
illness, and uninsured medical expenses.
3 ways to relieve your financial stress
Chapter 7 - This action is a solution for
businesses and individuals to liquidate
assets to pay off debt. You get a fresh
start to build a brighter future while being
debt free. You also get the peace of mind
knowing that creditors have been paid and
will no longer be chasing your down.
Chapter 11 - This action involves proposing
a plan to resolve debt by restructuring it.
Your lawyer works with you, the courts,
and creditors to determine an agreement
that is acceptable for everyone. The plan
allow individuals or business owners time
to repay their debts and obtain the new
beginning they need.
Chapter 13 - This action is for individuals
to reorganize debt. Once filed, most legal
actions are “stayed” so that new lawsuits
cannot be filed and existing lawsuits
cannot continue. A ‘stay’ stops foreclosure,
repossession, and other debt collection
processes so you can work with the
courts to bring your debt current over
a reasonable time period. You have the
opportunity to restructure debt into easier,
manageable payments without added
interest and penalties. And in many cases,
debt can be significantly reduced.
At Wells Thomas Law Firm, we help
protect your rights. We specialize in all
three of the above types of bankruptcy
solutions that can help you get back on
track with your life. Contact us at 404-260-
7449 to discuss your situation, remove the
burden, and start living a brighter future
with less financial stress. You can also find
out more online at www.wellsthomaslaw.
com.
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