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Before You Hire a Chapter 7 Bankruptcy Lawyer: What You Need To Know

If youíre considering the idea of hiring a Chapter 7 bankruptcy lawyer, you could be making the best choice of your life. But before you start placing calls, make sure you understand exactly what it is youíre getting into.

If youíre tossing about the idea of hiring a Chapter 7 bankruptcy lawyer, you could be making the best decision of your life. But before you start making calls, make sure you understand exactly what it is youíre getting into. Filing isnít for everyone and it isnít the right solution for every financial situation. Even though you may be crushed underneath some serious debt, there is a possibility that you wonít be eligible to file. Of course, a good attorney will be able to tell you this up front, but you can make some determinations on your own before you move forward.

A Chapter 7 bankruptcy lawyer is someone in charge of helping a client file for a particular type of bankruptcy. Chapter 7 is designed to give the individual a clean slate. They are able to wipe away the debt on the table and get back on firm financial footing. Because the situation and solution is so drastic in nature, there are stiff regulations determining who can file and why. It also comes with some consequences, which you must be prepared to face if you want to go this route. The consequences include selling off certain non-exempt assets, which can be used to pay off the creditors in part.

Certain debts cannot be discharged, even through a Chapter 7 bankruptcy lawyer. These debts include child support, student loans, alimony payments, certain taxes, and more. When you consult with an attorney, be up front about exactly which types of debt youíre looking to get out from under and make sure that you can move forward with this type of filing. This is one of the reasons why it is always advisable to hire legal counsel if youíve determined that you want to do this. Going it on your own is possible, but it greatly increases the likelihood that your application will be rejected.

In most cases where a person is faced with hiring a Chapter 7 bankruptcy lawyer, the source of much of the debt comes in the form of credit cards. With ballooning fees and payments, credit card debt can get swiftly out of control. While it always makes sense to talk to the credit card companies first and see if you can work something out (some companies will lower your interest rates, defer payments, and modify the loan in a way that makes it easier for you to pay back the debt), it may get to the point where you have no other choice. If it does come down to thatFind Article, find a good attorney and file the right way.

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ABOUT THE AUTHOR


If you're in need of a Chapter 7 bankruptcy lawyer Palm Beach has many qualified legal professionals that can help solve your debt woes and creditor calls. Don't live under crushing debt for another day! Get help by checking out http://www.drakeozment.com/.



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