Bankruptcy is a big decision for anyone’s life and necessary consultation must be taken before actually filing it. When should you consider bankruptcy is an important point which anyone must think of before filing for bankruptcy?
Consult from a BLC Law Center qualified bankruptcy attorney they can consult you professionally and can also tell you how to find bankruptcy lawyers for yourself.
What is chapter 7 bankruptcy?
Chapter 7 is a type of bankruptcy that will enable you to get off with all of your debt when you file it. When you file for Chapter 7 bankruptcy, the court places an automatic temporary stay on your current debts. This stops creditors from collecting payments, garnishing your wages, foreclosing on your home, repossessing property, evicting you, or turning off your utilities. The court will take legal possession of your property and appoint a bankruptcy trustee to your case.
A trustee basically will take a note of all your assets and sell all which he can to pay your creditors accordingly; trustee also conducts meetings called creditors meeting to tell about all the process of bankruptcy.
At the end of the process, approximately four to six months from your initial filing, the court will discharge your remaining debts. However, some types of debts generally aren’t dischargeable through bankruptcy, including child support, alimony, court fees, some tax debts, and most student loans. Contact a Chapter 7 attorney San Diego to know better.
What are some requirements for filing chapter 7?
The following are some cases in which you cannot file a chapter 7 bankruptcy.
- You should not have filed a Chapter 7 bankruptcy during the past eight years.
- You should not have filed a Chapter 13 bankruptcy during the past six years.
- If you tried to file a Chapter 7 or 13 bankruptcies and your case was dismissed, you have to wait at least 181 days before trying again.
- You may be eligible to file, but a court could dismiss your case if it determines you’re trying to defraud your creditors.
Always spot a bankruptcy lawyer near me for filling bankruptcy perfectly. A San Diego bankruptcy attorney will always be able to help you in the best possible way.
What are chapter 13 bankruptcies?
Unlike chapter 7 in chapter 13, you pay money to your creditors in a period of 5 years or less. In this, a payment plan is made by the court to bankrupt person so he can pay his creditors in small installments in a specific time which should be less than 5 years.
The creditor pays the amount he owes to his creditors, of course, the amount he pays is not full but a certain amount is paid in this chapter 13.
What do you need to file for chapter 13?
Before the court confirms your bankruptcy, you must fill out the official bankruptcy paperwork and prove that you are:
- Up-to-date on tax filings
- Within debt amount limitations
- Employed and have enough income to cover the required monthly payment, and
- An individual, not a business
Always hire a professional Bankruptcy attorney San Diego for filling any bankruptcy error-free.
Is a Lawyer Necessary?
Read the following points which will tell you why a professional bankruptcy attorney near me services will help you in all way when you will be filing for bankruptcy:
Professional representation: A professional bankruptcy lawyer is experienced, skilled, and has knowledge of the law to represent your case. In cases like these, you need a person who is qualified to represent your points in the most convincing way so judgment is in your favor. By hiring a bankruptcy attorney near me services, you’ll have professional representation when you are in court. This won’t just help when it comes to dealing with questions from the court, but will also give you the legal help you need.
The cost will be worth it: The biggest disadvantage which most people think when it comes to hiring a bankruptcy lawyer near me services is the cost involved. This makes sense after all if you are filing for bankruptcy you will be actively trying to save money, won’t you? But while hiring a bankruptcy lawyer will cost money it will often be worth it in the end.
With a bankruptcy lawyer assisting you, your chance of winning the case in court is increased this will make you save more money than you can imagine. Thus look at the bigger picture and find bankruptcy attorney near you for helping you.
Will handle any creditor who will overrule stay orders: If any of your creditors just don’t know when to quit collecting. Or if a creditor violates the automatic stay (the injunctive order that prohibits collection activity after the filing of the case), your attorney can demand compliance or ask the court to hold the creditor in contempt.
Proper filling of bankruptcy: Bankruptcy filing requires necessary and important paperwork, documents, signatures, etc. All these things require specialized knowledge to fill them properly. If you don’t know how to choose a bankruptcy lawyer then do proper research and find one quickly.
The following are some reasons why a bankruptcy lawyer is necessary for filling bankruptcy and another process. Hire a bankruptcy attorney near me services today who can guide in all the process of your bankruptcy.
BLC Law Center has professionals who can help you in all the processes of your bankruptcy. Our San Diego bankruptcy lawyer are skilled, have the knowledge, and are experienced to handle any challenge which is faced.