Are You Stunned By Thousands In Debt You Found Your Spouse Hiding? Save The House And Get A Bankruptcy Attorney Fast
When you turn your eye to what is going on with your marital finances and trust your spouse to handle everything, you can end up in a bad financial strife. If your spouse's behavior has led you to start investigating your finances, and you have found that you are burdened by thousands and thousands of dollars in debt, you want to find a lawyer.
If you know the debt you are in is probably an amount larger than you can get out of, and you worry you are going to lose the house and everything, find a bankruptcy lawyer fast. Here are some of the things to quickly discuss with the lawyer.
Chapter 13 To Save The House
Get the most up to date information on the mortgage before consulting with the attorney. The lawyer will need to determine these things:
- Is there enough equity in the home to pay off some of the debts?
- Do you owe more than the home is worth?
- Can the house be saved in Chapter 13 bankruptcy?
Chapter 13 bankruptcy means you will still have to pay back most of the debts, but you will do so to the courts. Some of your debts will be settled, others consolidated, and then you will have a legal obligation to pay the courts until you are out of this bad financial situation.
Getting In Contact With The Collection Agencies And Credit Card Companies
Talk with your spouse about turning over the financial responsibilities of the household to your management, and then talk to the lawyer about calling the debt companies to see what can be done. The lawyer may be able to get a freeze on some accounts to stop growing interest if the application for bankruptcy has been filed. If some of the companies are harassing and sending letters daily or regularly, the lawyer can also put a stop to this.
Prepping A Plan
The lawyer will present the court with a plan for how you are going to pay off the money that is owed if you are granted Chapter 13 bankruptcy. This will show where your wages and earnings are going to go, what debts will be settled and combined, where you can get some equity or cash and more. Let a bankruptcy attorney do this work so it's more likely to get approved, and you can start getting out of the debt you didn't know you had.
Although you will have your own issues to work out with your spouse about trust, communication and financial responsibility and stability, the important thing is to protect what you can right away. If you have been stunned to find thousands in debt in your marriage, call a bankruptcy attorney today.