The personal bankruptcy process can be an extremely effective debt relief option, particularly for those who have exhausted many of the traditional means for financial repair. Typically, filing bankruptcy is seen as a last resort, though it can often be the most logical decision depending on the circumstances of the debtor. When assets can no longer be liquidated and when bills cannot be paid, declaring bankruptcy is often the best course of action. Of course, in order to know if bankruptcy is right for you it’s essential that you seek bankruptcy help advice through a reputable professional – preferably a qualified bankruptcy attorney.
Consider filling out our free bankruptcy evaluation to be connected with an attorney in your area.
There are several advantages to using the services of an attorney when it comes to claiming bankruptcy, though some of the more common advantages are listed below:
• A bankruptcy lawyer can provide a complete explanation of the bankruptcy process, including what to expect before, during and after your claim has been filed.
• An attorney can explain the difference between the two most common forms of personal bankruptcy – Chapter 7 and Chapter 13
• An attorney can provide legal advice and representation that a Petition Preparer cannot
• An good attorney will be well-versed in the latest changes to bankruptcy law
• Attorneys can assist with gathering information and completing necessary paperwork
How Much Does Bankruptcy Help Advice Cost?
Filing bankruptcy is not a cheap proposition, particularly when attorney fees are factored into the equation. In addition to the mandatory filing fee of approximately $300, bankruptcy attorney fees can amount to $1,500 to $3,000 per bankruptcy claim. Although hiring a bankruptcy petition preparer can save you money when compared to hiring a full-fledged attorney, remember that petition preparers cannot offer legal advice or representation.
Should You File Under Chapter 7 or Chapter 13?
The type of bankruptcy protection you seek will depend on your individual circumstances and your goals post-filing. For a complete breakdown of the differences between Chapter 7 and Chapter 13, consider filling out our free bankruptcy evaluation that can connect you with a reputable lawyer in your area. Alternatively, you can also click on the following links:
Chapter 7 Bankruptcy Information
Chapter 13 Bankruptcy Information