Utilizing a Chapter 7 Bankruptcy Lawyer

Hiring a Chapter 7 bankruptcy lawyer is one of the most important steps individuals can take when filing. Even if you are just thinking about it and determining if this is a viable option for you, working with an attorney is important. Technically, you are not required to work with an attorney, but not doing so could help you to go through the process successfully. Because of the very strict requirements on individuals when filing, this professional can ensure you meet all requirements on time.

When you hire a Chapter 7 bankruptcy lawyer, he or she will perform numerous tasks on your behalf. The initial consultation is the ideal time to ask questions, get information, and determine if you do have the ability to file. Many times, this initial meeting is an information session. You provide information about your situation and the attorney will provide you with information about the process. Some things that you will want to walk away from this meeting with an understanding of include the following.

- Do you qualify to file? It is likely he or she will conduct the Means Test. This test determines if your income or other qualifications fall in line with the requirements for filing in your state.

- Will your assets be protected? Most consumers do have full or near full protection of assets. However, those who own more property than is allowable may see liquidation of it. Attorneys can tell you more regarding whether or not your assets have protection.

- Which form is right for you? Some will benefit from Section 13 if they do not qualify for total liquidation under the other. In 13, individuals are able to reduce their debt by entering a 3- to 5- year repayment plan during which all assets are protected.

- What is the cost of the service? Most often, all fees paid to attorneys must be paid prior to filing the case. Some offer payment plans. You should know upfront the costs involved in the process.

- Is this right for you? A qualified attorney will work with you to explain both the good and the bad aspects of filing. He or she will give you advice on whether or not you should consider other types of repayment. The attorney should tell you if they believe this is a good option for your needs.

By answering all of these questions, you will have a better idea about whether or not this process is the best option for you. A Chapter 7 bankruptcy lawyer can help you to understand the process and guide you through it without any limitations or mistakes that could cost you down the road. Work with a professional for this life-changing event.