When you find you have too many bills and not enough income to pay them all, you may need to consider filing for bankruptcy. However, before you make a decision on this important issue, you will need to spend time considering your options and evaluating your situation to determine if another solution to your financial issues exists. Many times the best way to do this is by paying a visit to a Bankruptcy Attorney.
If you are contemplating filing for bankruptcy, in most cases you will need the help and services of a lawyer. Because of this, many times a Bankruptcy Attorney firms will offer a free initial consultation. This can be a great way for the lawyer to assess your situation and let you know if he or she thinks bankruptcy is the best choice.
In many cases, a lawyer or a credit-counseling firm may be able to help you in speaking with your creditors about restructuring your repayment of loans or other types of debt. Sometimes they can even get a debtor to accept a smaller amount of money to completely pay of the loan. These types of plans and strategies can often give you a fresh start without having to obtain a bankruptcy judgment.
Should your situation be so financially difficult that filing bankruptcy is really the best option, an attorney will be able to help you determine which type of bankruptcy filing will be best for you. Some people may be able have their debts restructured by filing a chapter 13 bankruptcy, while others may need to have their debts erased through a chapter 7 filing.
While both of these plans may seem like good options, a chapter 7 will often cause you to lose your property during the process. Since this can be extremely difficult to handle, it can be helpful to have a lawyer who will work towards avoiding this type of filing.
Finding yourself in a financial situation where you are considering bankruptcy can be very difficult for most people. However, if you hire a lawyer from a firm, like Brent Sorenson & Associates P.C. you will be able to feel more confident about the decisions you will be making.