Montana Bankruptcy Facts
What You Need to Know to Obtain Swift and Successful Debt Relief
Sick of struggling with debt that never seems to stop piling? Are creditors on your back threatening to foreclose your home if you don’t pay up? Do you feel as though you will never get your debt down to a manageable level? If so, debt relief is closer than you think. Put an end to your financial burdens in Montana through bankruptcy protection with the help of one of our experienced attorneys.
Our site features links to only the most acclaimed and knowledgeable bankruptcy lawyers in Montana who will assist you in any way they can to get rid of your debt. If you owe money on credit card bills, car payments, your mortgage, or have amassed any kind of unsecured debt, bankruptcy may be the solution you have been looking for and our bankruptcy attorneys will evaluate your financial situation to determine what the best course of action for you would be.
When you work with one of our featured Montana bankruptcy lawyers, you will never be left in the dark when it comes to your case. The process of filing for bankruptcy protection can be scary, but our attorneys always make themselves available to you at all times to answer any questions you might have and ease your concerns.
Remember, the longer you wait to contact an attorney, the higher your debt will pile up. Speak with a legal professional in your area today so you can be on your way to obtaining the debt relief you deserve.
What You Can Expect When Filing for Bankruptcy Protection in Montana
The first thing you can expect when seeking bankruptcy protection is for your lawyer to put a list together of all your assets, expenses, debts, and your current income. This must be done in order to determine whether you can even qualify for bankruptcy protection in Montana. Once all the paperwork is gathered, a means test will be performed to determine which chapters are the ones you can file for.
If your income is below the state average for a family of your size, then you automatically pass and can apply for Chapter 7 liquidation bankruptcy protection. This is the most popular chapter in Montana because it can be filed by both individuals and businesses and can get rid of all your unsecured debt. The way it works is that your assets (with certain exceptions) will be liquidated and the funds will be used to get rid of your debt and give you a clean financial slate.
However, even if your income is too high, there are other routes your attorney can take to help you qualify for this particular chapter. Or, you can also go ahead and see if you qualify for the second-most popular chapter in the state, Chapter 13 reorganization bankruptcy. Instead of liquidating assets to cover your debt, Chapter 13 works by placing debtors on a payment plan so they can reimburse creditors. This is a great option for debtors who have a substantial amount of working income and do not want to forsake any assets. It takes longer to exit this chapter (three to five years) than with Chapter 7 (three to six months) and only individuals can file, but it is usually easier to qualify for.
Why Work with a Montana Bankruptcy Lawyer?
There are times when debtors qualify for both chapters, making things even more confusing. It’s not easy to go through the entire bankruptcy process by yourself, but when you have an experienced Missouri bankruptcy lawyer on your side, you can expect a swift and favorable resolution for your case.
Contact one of our featured Montana bankruptcy attorneys today and be on your way to debt relief.