Chapter 7 Attorney – Learn How to Start Again

A Chapter 7 attorney can help you liquidate your assets to pay off your debt. Filing is more complicated than you may think, and hiring a lawyer can assist you with gathering the information that you need for the filing. You will need to provide a list of the people you owe money to. You must also provide the source of your income and how often you are paid. You are required to list all of your property for the court. You will be required to provide a detailed list of your living expenses as well. For example, you should list the amount of money that you spend on food, clothing, shelter, and medical expenses. In other words, you need to create categories for everything that you spend money on and account for where your money goes. The court needs to see how much disposable income you have if any.

A Chapter 7 attorney will tell you that once the paperwork has been filed, your creditors will be notified by the court to stop all action to attempt to collect the debt from you. This means that they cannot call you or send you collection letters in regards to the debt. This can give you a sense of peace, particularly if you were feeling harassed from the contact. You, as the debtor, must attend a meeting with the creditors and the creditors are allowed to ask questions regarding the debt. You will be under oath, so you must answer the questions honestly. Your Chapter 7 bankruptcy attorney will tell you more about this meeting and how you should conduct yourself. Having a lawyer by your side will help you to feel more comfortable during these proceedings.

The Chapter 7 attorney can also provide guidance to help you determine if this filing will suit your needs and expectations. He may offer other alternatives that may provide you with relief and assistance. You should also keep in mind that states may have differing laws, so hiring a lawyer who is familiar with your state's laws is in your best interest.

Being in debt and having creditors constantly call you can be a terrifying experience. You may feel that liquefying your assets may be your best choice to start fresh, and your lawyer may agree. A consultation with a Chapter 7 attorney will provide you with the insight and guidance so that you know how to proceed if you find that you cannot pay your debts.

The lawyer can also tell you how the filing may impact your financial future. Before you think about filing yourself, consider obtaining consultations from several lawyers and get their points of view on the matter. You should also use the consultations to determine which lawyer is a good fit for you and your case. Seeing a lawyer can be your first step to starting again and beginning a new financial future for yourself and your family. Just remember to be honest with your Chapter 7 attorney and obtain as many documents as you can for your case.