A bankruptcy lawyer should understand every available option before you file for Chapter 7 or Chapter 13 bankruptcy. You should try to engage a lawyer who specializes in bankruptcy and can provide advice on the best time to file, ensure that all requirements are fulfilled, whether your assets will be safe, whether you qualify for chapter 7 or chapter 13. A good bankruptcy lawyer not only helps you with the filling process but coordinates all other activities between you and the creditor to ensure you get though the whole process smoothly.
Chapter 7 bankruptcy filing will cover your personal and business debts. When filing a Chapter 7 bankruptcy, one is not required to sell all of their property. A person is able to retain enough for financial stability once the proceedings have been completed.
Chapter 13 bankruptcy allows a debtor to make payments on outstanding debt over a period of up to 60 months. The Chapter 13 bankruptcy process requires completion of various schedules and petitions and can be a complex procedure.
Therefore, it is important to choose a bankruptcy attorney who has the experience, compassion, and work ethic to see you through the process.
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