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Dealing with financial turmoil is no easy task. Bankruptcy may be able to help you get back on track. If you've been thinking about filing bankruptcy to attain a fresh financial start, a local bankruptcy lawyer can explain bankruptcy and how it may help your situation.
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How Bankruptcy May Be Able to Help You
As your bankruptcy lawyer can tell you, the U.S. Bankruptcy Code offers consumers like you two forms of personal bankruptcy protection – Chapter 7 bankruptcy and Chapter 13 bankruptcy.
In simple terms, Chapter 7 bankruptcy may provide a discharge of unsecured debts like credit cards, medical bills and payday loans, while Chapter 13 bankruptcy may allow you to keep your home and car by agreeing to repay these secured debts over time in the form of a 3-5 year repayment plan.
While the difference between Chapter 7 and Chapter 13 bankruptcy may seem clear cut, don’t assume that the rest of the bankruptcy process is as easy to understand, especially when considering the effect of the new bankruptcy law of 2005.
There are now many more nuances that come with the territory of filing bankruptcy, including but not limited to determining your eligibility to file bankruptcy, preparing your bankruptcy petition, and satisfying the new requirements that come with filing.
If you’re thinking about filing bankruptcy, you will likely have some important bankruptcy questions that a bankruptcy lawyer can help answer, including:
- can you file bankruptcy?
- what may bankruptcy do for you?
- which form of bankruptcy – Chapter 7 or Chapter 13 – is better for you?
- how long does the bankruptcy process last?
- what will filing bankruptcy do to your credit?
As failing to comply with bankruptcy law can result in your case being tossed out, having a bankruptcy lawyer can be a safe way to make sure that your case is following the proper procedures.
Get in Touch with a Nearby Bankruptcy Lawyer
At Bankruptcy.Me, we make it easy for you to get connected with a bankruptcy attorney in your area.
When looking for a bankruptcy lawyer at Bankruptcy.Me, you have two options. Fill out our free bankruptcy case review form or call 888-632-0587 and we’ll connect you with a bankruptcy attorney as soon as possible.
The above synopsis of bankruptcy laws is by no means all inclusive and is not intended to provide legal advice. These laws may have changed since our last update and there may additional laws that apply in your situation. For the latest information on these bankruptcy laws, please contact a local bankruptcy lawyer in your area.