Learning About Bankruptcy Attorney Services
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Learning About Bankruptcy Attorney Services

Hello, my name is Marcy. I would like to talk to you about the various ways bankruptcy attorneys help you eliminate debt. My attorney helped me find all of the creditors that I needed to pay back. I was astounded at the number of creditors listed on the bankruptcy. Fortunately, my bankruptcy attorney assured me that my case was completely normal and possible to discharge through the court process. I hope to use this site to reassure others about their debt situation. I will share information about bankruptcy attorney services in an effort to help others tackle this difficult problem.


Learning About Bankruptcy Attorney Services

3 Things You Might Not Know About Bankruptcy

Don Elliott

A lot of people turn to credit counseling services, debt-repayment plans, and bankruptcy services when they end up in a position where they are overwhelmed with debts they cannot seem to repay. These are all great options for you to look into if you are in this position, but there are three important things you should understand about bankruptcy if you are leaning towards this option for finding relief from your debt.

It Is Not Right for Everyone

Bankruptcy is a service that offers relief from debt along with other benefits, such as an end to creditor harassment, but it is not always the best option for people with debt problems. There are other options, such as credit counseling services, that can be more beneficial for people in certain situations. Bankruptcy can be right for a person, though, if the alternative options are not feasible. The only true way you can know if bankruptcy will be the best choice for you is by meeting with an attorney.

When you meet with a lawyer to discuss the debts you have, the lawyer will look at your whole financial picture, which includes your income, assets, and debts. By viewing your financial picture as a whole, the attorney can determine what the best choice is for you.

You May Have to Repay All Your Debts

A second thing you might not know about bankruptcy is that it may require you to repay all the debts you have; however, this will depend on which branch you qualify for and which branch you file for. Chapter 7 tends to offer a great deal of relief to people struggling with high credit card balances, while Chapter 13 is better for people on the verge of foreclosures. With Chapter 13, you will have a repayment plan you must follow to repay your debts, but you will also have to repay certain debts even if you qualify for a discharge of debts through Chapter 7.

It Is Not Free

Finally, you should realize that filing for bankruptcy is not a free service. In fact, you will likely be required to pay for the entire fee before you even file. The cost of filing varies, but you can expect to pay at least $1,000 or more.

If you are ready to learn more about bankruptcy and the branch that would be best for you, talk to a lawyer, like Greg Dunn Bankruptcy Attorney.