A Guide on Everything You Need to Know About Bankruptcy Repayment Plans in West Virginia 

Did you know that a lot of businesses go bankrupt yearly in West Virginia? So, if you find yourself in such a situation, then trust us when we say that you are not alone. What you need when facing a similar situation is an experienced bankruptcy attorney who knows exactly how to help you pay off your debts without the need of selling different personal assets like your car and even your house. 

That said, let’s take you through the three different bankruptcy laws and plans that can help you. 

  1. Chapter 13 Bankruptcy

When your annual business income is a fairly good amount, then it’s Chapter 13 bankruptcy that you need to file for. 

You can choose a 3 year repayment plan or a 5 year repayment plan. But, what you need in order to find out which of these plans is better for you is an experienced Charles Town bankruptcy attorney

These attorneys will:

  • Study your financial figures and come up with the best repayment plan. 
  • Be able to defend you from harassing calls and letters.
  • Be able to save you from lawsuits. 

  1. Chapter 7 Bankruptcy

This program is for businesses that earn equal to or less than $76,273.00. You’ll have to provide your attorney with the following documents to apply for chapter 7 bankruptcy. 

  • Car loan documents.
  • Mortgage documents. 
  • Bank statement of the last 6 months. 
  • Paystubs of the last 6 months. 

  1. Debt Relief and Creditor Harassment

Many people report that creditors adopt different threatening ways for making you pay what you have borrowed while not giving a heed to whether or not you can afford it. The most upsetting ways in which they do so are as follows. 

  • Threatening your family. 
  • Sending threatening legal letters at your office and home. 
  • Filing a lawsuit despite your intention to pay what you borrowed. 

So, all in all, do not forget to contact the bankruptcy attorneys at Hinkle Law PLLC for a detailed guide about the kinds of documents that are needed from your side and the many ways in which they can help you. 

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