Recently, Boleman Law attorney, Matt Hahne appeared on Coast Live to talk about the options people have when it comes to financial issues and the reopening of the economy after COVID19 closures. Banks will resume starting foreclosures and repossession of vehicles.
If you have financial concerns, you have two different bankruptcy options, chapters 7 and 13. Chapter 13 bankruptcy is a reorganization. It is a monthly payment plan that allows you to keep your assets while paying your creditors a percentage of what you owe them. The payment is primarily driven by what you can afford to pay back. In Chapter 13, you can include mortgage arrears, you can restructure a car payment (reduce the interest rate and extend the note out), you can include tax debt and child support arrears. Pay your unsecured creditors only cents on the dollar.
To find about the different bankruptcy options and to see how Boleman Law can provide you legal solutions to financial problems, please schedule a free consultation with us.