Debt Wish: Bankruptcy Lawyer Needed

If you are already overwhelmed by the fact that your debts are already beyond your capacity to settle, and if you feel you are already harassed by your creditors, it may be the right time to file for bankruptcy.  

When doing so, it is prudent that you first get the services of a bankruptcy lawyer.  It may be wise to check first with your family or friends if they know of a bankruptcy lawyer that is competent and has a good deal of experience in this field.  Ask the lawyer if he will be personally handling your case, or will he perhaps pass it to a junior lawyer.  Be sure also to settle how much he will be asking to take the case, and if there are other fees that might possibly come up as the process moves along. In choosing the right bankruptcy lawyer for you, consider if you are comfortable with him & his staff and if you can trust him to represent you in court.

While it is possible to do the process on your own, you should remember that a great deal of patience and effort would be required on your part as this is a legal process.  There are details and points that require an educated & intelligent decision, as your choices will affect your case significantly.  Your bankruptcy lawyer can make this process easier on your part.

Bankruptcy may either be filed by liquidation – also known as straight bankruptcy.  In this type, you sell all your non-exempt properties or assets – the proceeds of which will be distributed to your creditors.  Or another form of bankruptcy is the reorganization type where the debtor is given a period of time, around 3 to 5 years to repay the debts he owes.  With the help of your bankruptcy lawyer, you will know which applies to you.

Straight bankruptcy would give a faster relief of your worries as it usually takes only months to put an end to the case, while the reorganization type of bankruptcy would mean continually paying your debts for years.  The latter part is more suitable though for businesses or individuals which have a regular and steady flow of income.  

Bankruptcy covers credit card debts, unsecured loans, medical bills, and the like.  If you are facing lawsuits, liens and foreclosures, having a bankruptcy lawyer on your side can help you a lot.

With the legal services you availed, you will be guided on how to go about the bankruptcy process, and each decision you will make along the way will be well-informed ones, as these will bear with them the wisdom and knowledge of an experienced bankruptcy lawyer.