How An Attorney Can Help You With Filing Chapter 7 Bankruptcy
While looking for ways to get out of your tough financial predicament, you might have thought about the option of filing Chapter 7 bankruptcy. If so, you will probably want to hire a bankruptcy attorney to help you with all of the various steps of filing bankruptcy. These are some of the ways that an attorney can help you when you are making this major -- but potentially incredibly helpful -- financial move.
Explaining What Chapter 7 Bankruptcy Is
You might have read or heard that filing chapter 7 bankruptcy can help you out, but you might not really know much about it. A bankruptcy attorney can tell you more about chapter 7 bankruptcy and can tell you about other options, too, such as chapter 13 bankruptcy. They can tell you what the impacts of filing bankruptcy are, what will and will not be discharged with this type of bankruptcy, what steps you will need to take in order to file, and more. You will probably find that a bankruptcy attorney's knowledge and experience can really help you out.
Helping You Determine Whether or Not You Qualify
Not everyone qualifies for chapter 7 bankruptcy. This depends on things like how much debt you have, how much your income is, what types of assets you have, and more. You will have to undergo a "means test" to help you determine whether or not you qualify, but a good bankruptcy attorney can make this process easy. If you don't qualify for chapter 7 bankruptcy, your attorney can help you determine if you might qualify for chapter 13 bankruptcy instead.
Assisting You With Filing the Proper Bankruptcy Paperwork
There is a lot of paperwork that has to be filed with the court system when you are filing bankruptcy. You might need help with filling out all of this paperwork since it can be very complicated. You will probably also need help with the bankruptcy hearings, too; luckily, your attorney can assist you.
Helping You With Notifying Your Creditors
You will need to notify your creditors about the fact that you are planning on filing bankruptcy. Then, they will know that they cannot contact you about the debts that you owe or take action against you. Additionally, notifying your creditors is an important step in the bankruptcy filing process. Your bankruptcy attorney can help you determine who you owe money to and can assist you with sending out the proper notification letters to all of those creditors. Click here for more information.