No one should feel embarrassed or guilty for filing a bankruptcy case. Many earnest working individuals, professional individuals, and famous individuals have filed for bankruptcy protection. The power of bankruptcy is to help pay off your debts that became uncontrollable and you need to re-organize your financial life.
There are different types of bankruptcy, but the top two that affects most individuals is Chapter 7 and Chapter 13. Chapter 13 bankruptcy helps people work out a payment plan which will allow you to keep your possessions and not to negatively affect your credit score. Under Chapter 13, your attorney helps to set-up a 3-5-year repayment plan and when this time period is complete, your debts have been satisfied.
Filing Chapter 7 is a court process whereby a person’s assets are sold and creditors receive their payment. To file Chapter 7 bankruptcy, there are certain court required eligibility requirements that must be met. However, if a person does not meet Chapter 7 requirements, a bankruptcy court will allow your lawyer to file a Chapter 13 bankruptcy case on your behalf.
Other bankruptcy petitions include Chapter 9, 11, 12, and 15 which respectfully involves, cities, large to medium-sized businesses, family farms/family fishermen, and persons who owe debts in the U.S. and internationally.
A bankruptcy lawyer provides legal guidance and services during a fiscal crisis. If you are thinking about filing for bankruptcy, it’s always best to speak with a knowledgeable and experienced bankruptcy lawyer. If you are considering filing bankruptcy it only makes sense that you may not be able to afford their services. Why not seek the services of a bankruptcy attorney?
Experienced bankruptcy attorneys can help you determine which Chapter bankruptcy works best for your debt relief. Bankruptcy lawyers can also help end harassing phone calls from debt collectors and keep your personal property, like real estate and vehicles safe from being sold off to satisfy your debts.
Where can you find a bankruptcy attorney? Start by contacting local legal firms or go to your local law school. The American Bar Association (‘ABA’) can also help you find bankruptcy lawyers.
The ABA has built into their rules of ethics clauses which addresses attorney. The ABA clause requires every lawyer to provide 50 hours of legal services annually without accepting any fees or to helps clients without even expect a fee.
The ABA’s ethical rules also protect clients seeking bankruptcy attorneys, noting that a licensed attorney must provide the same quality of services that they would for paying clients. Bankruptcy lawyers can be trusted to represent your bankruptcy case with the utmost care for your privacy and effectual financial outcome to help you have a better life.
Prior to filing a bankruptcy case, there a couple of non-onerous steps orchestrated through your attorney which must be met. This involves listing all your financial records, you must go through a required credit counseling course which ends with the receipt of a certificate of completion.