The safest option is to get in touch with a bankruptcy lawyer who can guide you through the complicated procedure of filing for bankruptcy. You will have to provide your bankruptcy lawyer with all your personal information in order to put together and file your voluntary petition.
Once the documents are filed at the bankruptcy court, you will be assigned a trustee who will see to it that all the information that is needed is collected from you and that all the information provided is accurate.
The next step would be to notify your creditors that you will be filing for bankruptcy so that they will have to stop all actions they might be taking up against you to get your payments.
If you are considering filing bankruptcy today or in the near future, select a bankruptcy lawyer in your area who can help walk you through the sometimes complex process of filing bankruptcy. The initial consultation is free.
If you found this website you probably are wondering whether filing bankruptcy is the right course of action for you. You probably also are struggling with lots of debt and/or the stress of dealing with creditors.
It may be possible for a person to file bankruptcy without a bankruptcy lawyer, but it is not encouraged. Bankruptcy filing is a process that can require the expertise of a licensed bankruptcy attorney. Changes in the 2005 bankruptcy law likely will cause more bankruptcy filings to be dismissed or delayed when attempted without an attorney or lawyer. Filing bankruptcy requires more study and research today than ever before.
It is a legal process, and that is the biggest reason why you need professional counsel and direction. Bankruptcy lawyers will review your situation and make a determination whether or not filing bankruptcy is the best course of action for you.
Chapter 7 Bankruptcy - often described as a "liquidation proceeding" because you (as debtor) turn over all non-exempt property to a bankruptcy trustee who liquidates the property and pays creditors. This type of bankruptcy filing can be completed in four months, typically. Most Chapter 7 Bankruptcy's involve debtors with very little assets.
Chapter 13 Bankruptcy - called "reorganization bankruptcy". Filing and completing this type of bankruptcy can take between 3 - 5 years because you make payments to the bankruptcy court over several years which, in turn, will make payments to creditors. There are reasons why a person files a chapter 7 bankruptcy versus a chapter 13 bankruptcy. It is often best to let a bankruptcy lawyer guide you. Questions involving exempt and non-exempt assets are also no small matter. Filing bankruptcy must be done accurately or your case can be denied.
The bankruptcy lawyers listed on this bankruptcy attorney referral website will meet with you for a FREE consultation. Find one in your area today and get the answers you need to make an informed decision.