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.
Any time you're seriously considering bankruptcy as a way to deal with debt, you want to put a pause on these actions and first consider this attorney advice. It could help you out in the long run financially.
There Are Criteria
People facing debt don't automatically qualify for bankruptcy—chapter 7 or chapter 13—just because they made poor financial mistakes. There are criteria in place to protect people from filing for bankruptcy on a whim or unjustly. Before you fill out any forms for bankruptcy, take a look at your financial situation in comparison to the criteria for whichever bankruptcy option you're considering. That way, you'll know if it's even possible to file for it. Just know that if you don't meet the right criteria, there are still ways you can go about managing a lot of debt.
Sometimes All Debt Isn't Alleviated
Some people go into the bankruptcy process thinking that if they're accepted and everything goes through, all of their debt will be alleviated and they can simply start from scratch. However, that is not necessarily true. Many times, there is some debt left over. That's much better than having to face crippling debt, but it's still important to know this so that you set your expectations correctly if this process seems to be in your best interest. If you want more details on debts that can or can't be removed from bankruptcy, speak with an attorney.
Bankruptcy Type Matters
When people are faced with debt and bankruptcy comes up, there are two options that include chapter 13 and chapter 7 bankruptcy. You don't want to just pick one and hope for the best. The type you try to carry out truly does matter for your financial future.
Chapter 7 works like liquidation where unsecured debt is wiped away, while chapter 13 is more like a payment plan. If you're unsure of what path would suit your financial situation best, hire a bankruptcy attorney and find out for sure. They can help you understand the type that will work for your situation and then you know your actions aren't going to lead you down a bad path.
Setting aside some time to carefully weigh everything that comes with bankruptcy is important. You'll improve your odds of making smarter decisions and even if you're still not sure, bankruptcy attorneys can consult in meaningful ways so that you're not risking your future. Contact a bankruptcy law attorney for more information.