Bankruptcy Attorney Related Tips

The most common question asked among individual petitioners who file for Chapter 13 or Chapter 7 is whether or not they can proceed with the filing without a bankruptcy attorney. The answer is yes, and in that scenario, the proceeding is called a "pro se" filing. This can be done diligently in most small Chapter 7 cases, but in Chapter 13, where the debtor does not want to liquidate, it is highly recommended that the debtor employ his/her own bankruptcy attorney to expedite the case and not lose money on bad decisions. If you are considering filing for bankruptcy, choosing the right attorney can help you recover your financial plans.

When you're facing threatened foreclosure, collections agents and piles of unpaid bills, it's natural to feel overwhelmed and desperate for escape. That is why it is important to ask a skilled bankruptcy attorney for help. In my experience, the best time to reach out to an attorney for help with your debt is before you find yourself knee-deep in unpaid bills.

If filing a bankruptcy is unavoidable, what type of bankruptcy should you file for? Basically, you have a few options to discharge your debt, but the most common form of debt relief is filing under Chapter 7 bankruptcy. It is a highly recommended option for those who truly want a fresh financial start in a shortest period of time. This article will explain the reasons why you should file under this type of bankruptcy for a debt relief.

Those persons that have filed a Chapter 7 bankruptcy in the past 8 years or a Chapter 13 bankruptcy in the past 6 years are not eligible to file a Chapter 7 bankruptcy. Similarly, individuals who have the ability to repay a portion of their debts are not eligible for Chapter 7 bankruptcy and, instead, must file a Chapter 13 or Chapter 11 bankruptcy. A Chicago bankruptcy lawyer can help you analyze your debts and income to determine whether you are eligible for Chapter 7 bankruptcy.

This increase in bankruptcy filings has overwhelmed bankruptcy lawyers, who face a burden of being liable for false information filed by clients once the new law takes effect. Certainly an unwelcome change. This additional liability, together with the additional tasks, has prompted many lawyers to raise fees subsstantally over the same time as last year.

Chapter 12. Chapter 12 bankruptcy is specifically designed for farm owners. The farm owner still owns and controls all assets and works at a repayment plan with the creditors, much like a Chapter 11.

You can actually file for bankruptcy more than once, but the new bankruptcy laws extended the amount of time in between filings. Chapter 7 bankruptcy can be filed for once every eight years and a Chapter 13 filing once every two years. If you want to file for both on separate occasions, there is a four year wait in between the two filings.