The federal law allows a process known as bankruptcy to help debtors that owe creditors more money than they are able to pay. With this process a debtor can pay their debts through a payment plan for all or part of the amount over a certain time or eliminate their debts altogether. A bankruptcy lawyer can help you when you are in situations where you have overwhelming medical bills, over your head in credit card debt, and creditors a constantly harassing you.
A professional attorney can provide you with advice that state there are federal bankruptcy laws in place that can help you with a renewed financial start. For example,
filing chapter 13 bankruptcy can help stop foreclosure proceedings on your home and filing chapter 7 can help discharge some kinds of unsecured debt. In order to find out what type of bankruptcy is right for you hire a professional and knowledgeable bankruptcy attorney that will make sure your rights and interests are protected.
It is never easy when a person reaches the point where they feel the must file for bankruptcy, but hiring a qualified bankruptcy lawyer is an excellent way to get all advice you need and questions answered in order to make sound, informed decisions. Hiring a profession bankruptcy lawyer can help you avoid home foreclosure, stop property repossessions, help you retain your assets, give you a chance to pay your dept through a payment plan, and stop harassing call from creditors.
With a knowledgeable bankruptcy lawyer you will learn that one of the least costly, quickest, and simplest ways to discharge debt is through a chapter 7 bankruptcy. This process is available to partnerships, corporations, married couples, but works best for individuals that have limited wages and income and those that have minimal assets to protect them from liquidation. With a knowledgeable attorney, you can get approval for some exemptions that will make it necessary to maintain ownership of your business, car, home and other property.
You can also learn helpful information such as there are certain types of debts that are not discharged through bankruptcy to include:
• Debts that come from fraud or embezzlements
• Spouse support payments
• Payments from child support
• Debts that are not a part of the debt repayment plan
• Debts that come from another person or malicious injury to property
• Debts that are owed to a particular tax retirement plan
• Personal debts resulting from a debtor that was intoxicated while driving
Additional areas that people commonly ask questions to concerning bankruptcy include:
1. What does the terms “unsecured” and “secured” debt mean?
2. Am I responsible for a debt that I co-signed?
3. If I file bankruptcy, will I lose my personal property?
4. If I file bankruptcy, will I lose my social security benefits?
5. Can one spouse file bankruptcy without the other spouse?
You can get answers to these important questions and more when you hire a qualified bankruptcy attorney with many years of experience providing excellent legal services to many satisfied clients. Retaining the services of a skilled bankruptcy attorney will ensure all paperwork requests and important deadlines are met in addition to making sure your case is presented to the courts in the best possible light. This attorney will also be representing you in all of your meetings, alongside your court appointed trustee.
If you plan to file chapter 13 bankruptcy you will be allowed to restructure your debts where there is no interest or the debt is lower and also remains in your name. This type of bankruptcy is typically assigned to those that have a regular income and allows the debtor to use any income that may come in the future in order to pay the debt off to creditors. An attorney can advise you if this is the right plan for your financial success.
Call a professional and reliable bankruptcy lawyer today for a free initial consultation so you can get a customized plan to suit your specific needs. Work with a team that is honest, provides practical solutions to help solve your financial problems, and provides legal advice that is both straightforward and factual.
