Resources

How to Find the Best Chapter 7 Bankruptcy Lawyer

Unfortunately, bankruptcy is all too prevalent in many people’s lives. Often, bankruptcy is a person’s last resort option due to rising interest rates on mortgage payments, financial struggles, unfortunate life circumstances, and even mounting medical bills to name a few examples. All you need is a bit of bad luck, and you can find yourself making this same difficult decision. However, declaring bankruptcy is not as easy as saying, “I’m bankrupt.” To ease your transition into bankruptcy, and to ensure that you are getting the best deal and are being treated fairly, you should hire a chapter 7 bankruptcy lawyer to assist you.

What is Chapter 7 Bankruptcy?

The most common type of bankruptcy is Chapter 7 bankruptcy. Filing a Chapter 7 bankruptcy claim is basically a liquidation bankruptcy that wipes out most of your unsecured debts like medical bills and credit cards without the need to pay back balances through a repayment plan. In order to qualify for a Chapter 7 bankruptcy, you must need certain income requirements. If you make more than the Chapter 7 income requirement, then you will need to file for a Chapter 13 bankruptcy. However, once you file for a Chapter 7 bankruptcy, with help from your bankruptcy lawyers, an order called the automatic stay halts the majority of creditors from pursuing collection efforts. This type of bankruptcy works well for people with low-income and little to no assets. Filing for this bankruptcy can make it possible to stop wage garnishment, end your legal obligation to pay most or all of your debts, end debt collection harassment, prevent foreclosure on your home and allow you to catch up on missed payments, and many more.

What Can a Bankruptcy Lawyer Do for Me?

The bankruptcy lawyers at Judge Law Firm are your guide to navigating the murky waters of bankruptcy legal jargon and debt creditors who want your money yesterday. Good bankruptcy lawyers can help you figure out if another option besides bankruptcy would be better for your situation, but if bankruptcy is your best option, then they can provide you with the following benefits:

1. Offer advice about the best time to file for bankruptcy to avoid ending up in a worse financial situation than before you filed.

2. Give advice about your assets. With a Chapter 7 bankruptcy, certain assets are not included in the filing, which means you get to keep them. Your lawyer should know which exemptions you qualify for and will help you not lose your assets when it could have been avoided.

3. Assist you in completing paperwork that’s required to file your bankruptcy. It can be difficult to parse the meaning from dense, bankruptcy contracts. Thankfully, lawyers are trained to understand the law jargon that gets thrown at you in these filings and can help you understand what is really being asked and said.

4. Bankruptcy lawyers will represent you at creditor meetings, which is certain to relieve a lot of stress from your shoulders.

Filing for bankruptcy is a stressful and emotionally turbulent time, so why make it harder by shouldering the burden yourself? You should hire a bankruptcy lawyer to assist you in the heavy lifting and let you focus on what really matters – getting your life back on track.

Important Questions to Ask When Hiring a Bankruptcy Lawyer

In these uncertain times, and there are always uncertain times, it is best to be prepared. Anything can happen, and although people plan to sustain, they must also be alerted when necessary so that we are all prepared. One of the things people never wish for is bankruptcy, but that too is something that needs to be planned for so that it can be overcome. But how can someone be prepared for bankruptcy? Knowledge is king in everything, so here are some important questions to ask when hiring a bankruptcy lawyer near me so that you are able to make the best choice out of the bankruptcy lawyers in your area.

If you are considering this big step, then you very likely have some specific questions that are unique to your situation. Keep those questions in mind, write them down and take them with you. Don’t hesitate to ask them in the meeting that you have with any of the bankruptcy lawyers near me that came up in your search.

Is this the right decision?

This is an important question, especially if you do not know the ins and outs of bankruptcy law. Deciding whether or not to file and which type of bankruptcy protection to file is the reason why you are googling ‘bankruptcy lawyers near me.’ It is important to choose the right lawyer to help you make the right decision. Do you and the lawyer agree that this is the best thing to do, and on what the next steps are from here?

Chapter 7 or Chapter 13?

There are two types of bankruptcy. In Chapter 7, the filer loses any property that isn’t exempt under the law. The bankruptcy lawyer can advise as to what those exemptions might be in your area. These are usually home equity, car, clothing, or other necessities that can return you to work. You may lose anything that you own otherwise in return for having the debt wiped. Chapter 13 bankruptcy doesn’t take anything and instead gives you time and a schedule to pay off the debt. Ask the bankruptcy lawyer near me for advice on these options.

What happens next?

After you file for bankruptcy, then what? You will want to have a clear understanding of how long the process will be and what you are going to need to produce to make your situation better right now. The bankruptcy lawyer will work with you to appraise the creditors of your situation and get them to back off. The bankruptcy lawyer near me will help you understand the length of time that this can be expected to continue, and how you will be at the end of the process.

You will also want to know about what may go wrong and what else is needed from you before you proceed. In addition, be sure that you ask about and understand the legal fees that you will incur during this process. When you choose a bankruptcy lawyer near me, you are choosing someone to fight for you and be on your team. Be sure that you and the bankruptcy lawyer can get along and work together to find the solution that is right for you.

when-filing-for-bankruptcy

When Filing Bankruptcy In Arizona, Chapter 7 Bankruptcy Forums Don’t Provide Reliable Information

When filing bankruptcy in Arizona, Chapter 7 bankruptcy forums like to appear helpful, but really cannot provide you with reliable information. When you are thinking about declaring personal bankruptcy or want to enter bankruptcy protection, you need specific information about your case from someone who is an expert on bankruptcy law.

bankruptcy-dos-and-donts

Avoiding Common Bankruptcy Mistakes

People facing serious financial difficulties often take the view that desperate times call for desperate measures. While that’s an understandable outlook for somebody who has been focused on putting out financial fires for a long time, it is generally counterproductive.