Chapter 7 Lawyer for Help With Bankruptcy

When debts pile up and your find yourself in a financial crisis, you can feel overwhelmed and anxious. A Chapter 7 lawyer can help you when creditors are calling daily while and your living expense budget is dwindling.

Today, there are many people are feeling the financial pinch of an economy in recession and are looking for viable solutions to move forward to a more sustainable financial future. Bankruptcy is a way for people to eliminate past debts that have become increasingly hard to handle, allowing them to have a fresh start. Declaring bankruptcy has its drawbacks, but for people with few options in front of them to consider, working with a Chapter 7 lawyer on filing for bankruptcy may be the best way for you to wipe the slate clean. Unlike other filing chapters that negotiate a payment plan under lower interest rates, this chapter liquidates your assets to pay off the bulk of what you owe, but no more than that. Talking to an attorney is the first step in deciding if this route will work for you and to start the process of filing.

Liquidation is the most popular type of bankruptcy. Filing under this chapter works well for people with few assets. When you don't own real estate and have no investments in stocks and bonds, there is very little your creditors can go after. If you are a homeowner with full time employment and a comprehensive portfolio, a chapter 7 lawyer may advise you to consider another method that sets you up on a payment plan. Making the wrong choice could liquidate all the assets you have worked hard for, impacting your life profoundly.

Property and assets are sold off in order to pay your creditors only after you have completed the necessary paperwork to petition. Your chapter 7 lawyer will help you through this process. When you file, you are filing with the federal courts. Although you are able to represent yourself, like in any other court case, it is advised that you seek experienced legal help for these complicated petitions. Most bankruptcy lawyers only work with bankruptcy cases, giving them a solid background of expertise to advise you on the best course of action based on your unique circumstances.

Your chapter 7 lawyer will review your list of assets and arrange what will go to auction in order to pay off your debts. In some cases, you may be able to hold on to some of your more important assets. If there is property you own that you can sustainably maintain payments on after liquidation, such as your car or your home, you may be able to keep them.

Once complete, you should be debt free and on a path towards a stable financial future. Make sure you work with an experienced, effective attorney for the best possible results.