How Can You Overcome Debt With the Help of a Chapter 7 Attorney in Romney WV?

Most people try to avoid debt as much as they can, but it is not always possible. When a person gets into debt over their head, it is vital they realize their options. Thankfully, there are some legal options that can help people overcome their debt and start a new financial future. The fastest option for settling debt quickly is working with a chapter 7 attorney in Romney WV.

Chapter 7 is a type of bankruptcy that is ideal for those who have mostly unsecured debt. To be approved for pursuing chapter 7, a person must first go through means testing to ensure their income is not above the median income in the state of West Virginia. If the debtor successfully meets the requirements for filing chapter 7, their debts can be settled or absolved in as few as six months.

When a person pursues chapter 7, a trustee is court-appointed and placed in charge of the bankruptcy. They are held responsible for the inventory of the debtor’s assets to determine which are eligible for liquidation so the debts can be paid off as much as possible. There are some assets of the debtor that are protected from liquidation, such as the residential home, car, clothing, and furniture.

It typically takes about six months to settle debt, but it can sometimes be settled more quickly. It is imperative a person is cooperative and adheres to their responsibilities, so their bankruptcy process will proceed smoothly.

To get started on filing for bankruptcy, a person needs to schedule a consultation appointment with a lawyer to discuss their options. A lawyer can help a person determine if they are a good candidate for chapter 7 or if they will need to file chapter 13.

If you are facing more debt than you can handle, now is the time to seek legal help so you can determine your best recourse. Contact the Sherman Law Firm and ask them to schedule your consultation appointment. They will be happy to help guide you through the process so you can finally be free of your debt. Call today to get started.

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