It takes just a few financial missteps for a person to fall into serious financial trouble. For some, the only way they can dig themselves out of debt is to file for bankruptcy. While bankruptcy may be the only solution, it is a very long, difficult and confusing process, and a good way to get through it is to hire a bankruptcy attorney.
Choosing the Right Type of Bankruptcy to File
When an individual files for bankruptcy, they have two options, chapter 7 and chapter 13. Chapter 7 would allow the individual to lose all of their unsecured debt, while chapter 13 gives the individual more time to repay their debts. Some people would benefit from filing for one type of bankruptcy over another, and others would not even qualify to file for chapter 7. It would take the knowledge of a bankruptcy attorney to determine which type is right.
Stop the Harassment
Debt collectors can be relentless: they will contact the people who owe them money every day, at all hours. Over time, the phone calls can become harassing. When an individual hires a lawyer to handle their bankruptcy case, the lawyer will contact the creditors and let them know that the individual has representation. Once the debt collectors have this information, the harassing phone calls will stop.
The paperwork involved with filing bankruptcy is very lengthy and can be very confusing, and if any of the forms are not filled out properly or in their entirety, the application for bankruptcy can be denied. If an individual hires a lawyer to handle their bankruptcy, they can be sure that all of the paperwork will be completed correctly.
Understanding the Process
There is much more to bankruptcy than filling out a form and having a judge sign off on it. The individual would be required to attend credit counseling classes, and there are certain debts that cannot be written off that the individual filing may not know about. Also, there are several bankruptcy laws that only a lawyer would know. The one way an individual can understand the entire bankruptcy process is to hire a lawyer.
If an individual believes that there is no way out of their financial situation, they should visit Hogan-law.com.