If you are behind on your bills, you undoubtedly know by now what it is like to deal with the endless calls from creditors morning, noon and night. There comes a point for everyone in this position where one must be honest about the next steps. What is reasonable for someone in your position? Is your short term or long term earning potential going to enable you to pay off what you owe your creditors? And, if so, will you be able to do so before you lose your home or vehicle?
For people in Delaware who are experiencing this sort of unending creditor harassment, there are options to stop the calls from creditors. Filing for Chapter 7 or Chapter 13 bankruptcy in the State of Delaware will end those calls from creditors, but in different manners. In both cases, creditors are notified that the borrower has filed a claim for bankruptcy at which point, any contact with the borrower in an attempt to collect on the debt is forbidden. In the case of a Chapter 13 filing, the borrower is put on a schedule which allows them to pay off the debt on more reasonable terms. For those filing for Chapter 7 bankruptcy, generally the debt will be discharged.
If you have any questions about filing for bankruptcy in Delaware, it is recommended that you speak to a lawyer who will help you understand your options. Call the attorneys at GDWG today for a consultation so that we can help you on the road to financial freedom today.