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How to Get Out of Debt When You Have No Money

When your best efforts aren’t producing results, it may be time to seek assistance from someone who can examine your debt and help you find a way out of it. A bankruptcy attorney is just such a person to offer practical help. But why hire an attorney? They cost money, and you’re already broke. Isn’t hiring an Ohio bankruptcy attorney just adding another unpayable bill to the pile?

Finding yourself deep in debt can leave you feeling scared and helpless. It sometimes seems as if you are working hard to pay your bills, but you realize you are making little to no progress. If anything, your debt is spiraling further out of control.

These thoughts are definitely a concern, but they don’t have to be. You may be able to find a qualified bankruptcy attorney who can offer you a free consultation in order to discuss your situation and offer up potential ways to solve your problem. There are other very good reasons to hire a bankruptcy attorney:

  • The Bankruptcy Code is vast and can be very difficult to understand, and there are many potential pitfalls you can face. A good bankruptcy attorney will be knowledgeable and be able to thoroughly explain both Chapter 7 and Chapter 13 plans, noting the advantages and disadvantages behind each plan.
  • Your attorney, though well-versed in bankruptcy law, should also be able to list and explain some alternatives to bankruptcy. Bankruptcy is a lengthy process, and it will hurt your credit. While it does not completely eliminate your chances of getting credit, it does show up on your credit report for a number of years after, and you will need to disclose it every time you apply for credit in forms like a credit card, an auto loan, or a mortgage. Your situation feels dire to you, but an attorney might see it another way and thus may be able to guide you into an affordable payment plan that knocks out all your debt. What’s more, your attorney can work with debt settlement companies on your behalf in order to negotiate the best payment plan for your budget.
  • A good bankruptcy attorney should know the process inside and out. They will file the bankruptcy correctly on their client’s behalf and make sure nothing is missing
  • Your bankruptcy attorney works for you. That means that your best interests are always at the forefront of every decision made. The end goal is the same for you and your attorney: to give you relief from your debt.
  • A skilled bankruptcy attorney will know what items may be exempt from bankruptcy, so that you can hold onto as much of your personal property as possible. Additionally, your attorney will fight to keep your home from foreclosure, eliminate garnishment of your wages, and stop repossession of your car.
  • Immediately after filing for bankruptcy, you can experience some peace of mind. The filing will create an automatic stay, which stops most creditors from being able to contact you and harass you for payment. Most correspondence goes to your attorney, who passes it along to you.

How an Ohio Bankruptcy Attorney Can Help You

The bankruptcy process can be confusing, especially if you do not have experience with the legal system. At Luftman, Heck & Associates, we focus on simplifying the process while keeping you in the loop. You may have questions about bankruptcy or you’re wondering what your options are for getting back on your feet. We’re here to help. For a free consultation, call Ohio bankruptcy attorney Matthew Alden at (216) 586-6600 or send an email to advice@clevelandbankruptcyattorney.com. Attorney Alden does not collect any fees until after the bankruptcy has been successfully filed.