Wednesday, 25 December 2013

Join hands with a bankruptcy attorney – The legal services that ease off stress

Posted at  07:57  |  in  Bankruptcy

When should an individual file bankruptcy? In tough economic times, when he is laid off during a sluggish labor market or is going through some prolonged sickness and is not able to work for a long period of time and at the same time when he owes an overwhelming amount of debt to multiple creditors, he thinks of filing bankruptcy and starting a fresh new financial life. Since it is a legal process with many twists and turns, it is certainly better to get help of the legal services offered by the bankruptcy attorneys. Are you someone who is about to take help of a bankruptcy attorney and you’re not aware of the different services that are offered by them? Read on the concerns of this article to educate yourself on the same.

1. Attorneys know the ins and outs of bankruptcy: While in Chapter 7 bankruptcy, you lose all your unsecured debts and your property, in Chapter 13 bankruptcy, you actually buy yourself some time to repay all or a major portion of your debts through an alternative debt repayment plan. It is a bankruptcy attorney who is well aware of the ins and outs of the types of bankruptcy and will advise you on the type of bankruptcy that will best suit your present financial condition.

2. An end to the harassment: When you fall behind on your debt payments, your accounts are turned over to the debt collection agencies after which you start getting harassing calls from the creditors. Although after filing the bankruptcy petition, the court imposes ‘automatic stay’, due to which no creditors or debt collectors can carry on with their collection efforts, yet you may still get some calls. When you’ve joined hands with a bankruptcy attorney, you can be sure about not getting harassed by anyone as the attorney will constantly mediate with them.

3. No more fear about your finances: If you don’t know how to file bankruptcy and about the advantages of filing the same, an attorney can help you. You won’t have to stay concerned about your finances as the bankruptcy attorney will take care of everything. Most bankruptcy attorneys are short and to-the-point and they take care of all the details and paperwork out-of-court. Everything falls in place when you have an attorney by your side.

4. The price of filing bankruptcy is right: Of course, hiring a bankruptcy attorney doesn’t come free of cost but when you’re getting help of the right attorney, he will come with the best price. Some bankruptcy filings allow the attorney to be paid through the process of settlement and some are even cheaper.

Hence, when you’re about to file for bankruptcy, and you’re spending sleepless nights worrying about how you’ll get over the entire process without a glitch or an error; you can certainly get help of a bankruptcy attorney. They are experts who have completed their professional career and therefore they’re trustworthy. You just need to make sure that the attorney you’re working with is highly qualified and is also experienced enough.

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Jimmy Simond is founder of wallstreetsfinancenews.com he share his immense knowledge of finance in this blog. You can follow him on Google+.

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