Get Financial Help by Hiring a Bankruptcy Attorney

In this economy, where countless people don’t have jobs, can’t find jobs, or have jobs, but are barely making enough to survive, things can become incredibly stressful. Sometimes it gets so financially rough that people turn to whatever they can to get out of debt and above water again. For a number of those people the only method to get everything sorted, even if for a short time, is to look to bankruptcy. It’s not ideal for anyone, but if you’re in a rough financial spot, it might be your best option. So how does it work?

Ask a Bankruptcy Attorney
Deciding to file bankruptcy means a lot more than most people realize – and you can’t do it alone. Putting aside some time to find a good bankruptcy attorney will help you out more than you know. First of all, they can go over the entire process with you and provide a step-by-step guide which will help ease some of the stress. Though, it’s not always as easy as simply asking questions.

You’ll have to gather up all bills and any other financial documentation and bring them to your bankruptcy attorney so they know exactly what kind of bankruptcy you should file. It’s best to be helpful and be a part of the process.

Common Bankruptcies
When you decide you need to file, a bankruptcy attorney will make sure you know which type you need to file under. The two most common types are Chapter 7 and chapter 13.

Chapter 7 Bankruptcy
Chapter 7 is the most common type of bankruptcy and is known by its liquidation of assets. In short, you sell off a lot of properties in order to pay off your debts and get back on your feet. There is a list of exempt items, but it varies from state to state. The right attorney will know what you can keep and what has to be sold, and they’ll be able to tell you what happens with secure loans such as car payments.

Chapter 13 Bankruptcy
When it comes to filing a chapter 13 bankruptcy, the process is a bit different as you agree to pay part of your debts. If you want to qualify for chapter 13, you need a reliable source of income so you can make payments, but if you can, it might be better for you than a chapter 7, as you save most of your property from liquidation.

If you find yourself in need of filing for bankruptcy, then finding a good bankruptcy attorney can be the most important part of the process. They know what needs to be filed and how to file the proper documents. They also just exactly what type of bankruptcy is right for you. Don’t do this alone! It can be stressful, and it’s easy to take the wrong step. Get some professional help and ease some of the burdens.