Chapter 7 Bankruptcy Attorney – Why You Need One

Filing for Chapter 7 bankruptcy is a complex legal process that takes time. Yes, you can file for bankruptcy on your own. But with all the legal technicalities involved and with a new law in place, it’s best if you hire a Chapter 7 bankruptcy attorney. Your creditors can fight you for Chapter 7; therefore, it is better to have a legal expert by your side. Chapter 7 bankruptcy is basically a liquidation of your non-exempt property to disburse your debts.

An experienced Chapter 7 bankruptcy attorney will pursue your interests aggressively. He or she will give you expert advice on how to manage your debt and help you in your efforts to achieve a financially secure future. If you are not sure if Chapter 7 is right for you, he/she can offer you other alternatives and will tell you about the exemptions available to you in the state where you live.

Presentation for Chapter 7

Your Chapter 7 bankruptcy attorney will tell you if you are eligible to file for Chapter 7. With the new law in place, you may first need to go through credit counseling before you are eligible.

If you are eligible for Chapter 7, the next thing you need to do is make a list of all the debts you owe. You can get your credit report from each credit reporting agency to get an accurate picture of your debts. You will have to go through a lot of paperwork. You will need to sign on the dotted line before submitting the documents.

Once the documents are filed, it will take three to four months for the court to decide if you are actually eligible to apply. If you are found eligible, you will receive an official confirmation. The entire Chapter 7 process can take about a year.

The decision to file for bankruptcy is often a difficult one to make. When you choose to do so, you’ll want to make sure you have the right attorney to help you with the reams of paperwork you’ll no doubt need to fill out and file. If you are serious about getting rid of your debts, Chapter 7 is right for you. He or she will be on top of the process and save you time and money in the long run that could otherwise be wasted on unnecessary mistakes.