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Owning Up To Financial Problems
Deciding to file for bankruptcy is never an easy choice to make. You must first weigh the pros and cons, and determine what type of bankruptcy you can file.
There are two major ways to file bankruptcy and you should know that it is not an easy process. You can do it on your own if you understand the laws and the two different types of bankruptcy you can file. First there is chapter 7; chapter 7 bankruptcy is the conversion of assets into money. This allows you to payoff debts quickly. With chapter 7 bankruptcy you sell your assets to pay your creditors and within a few months you have charge offs on your credit. Chapter 13 is the next method used to file bankruptcy in the United States. Chapter 13 is the repayment plan with little or no interest. This means that you file chapter 13 with the courts, then all of your debts are compiled and you are set up on a repayment of those debts to take place each month until it is paid off. This is the advised way to go if you have a steady job but just cannot make all your monthly payments.
When considering both of these options you may be overwhelmed by what is best for you and your situation. The best advice is to seek out legal council that can assist you in determining which type of bankruptcy you should file as well as help you with filing the papers with the courts.
When it comes to choosing an attorney to represent you in your bankruptcy case you want to ask some important questions to aid you in your decision. Do not consider fees and payment prices alone, as you should focus on other factors that are just as important if not more important.
Important Questions To Ask
Ask each attorney you speak with how long they have been in practice and what level is their experience as an attorney. Ask for the attorney’s qualifications and what areas they specialize in. Asking about fees and payments is also needed for your choice in choosing your bankruptcy attorney. Also ask yourself some questions. Questions such as does the attorney seem competent? Is his office staff organized and punctual? If you are able ask some questions about the attorneys client relationships. Law does prohibit an attorney from speaking about clients unless he has been given the permission from the client. These questions can allow you to make a solid choice on who will represent you.
Comfort And Confidence
When meeting with your attorney does he or she seem to be considerate of your concerns? Do you feel comfortable speaking to your attorney about all aspects of your bankruptcy decision? Do you personally feel confident that your attorney will be able to perform all his or her duties in your bankruptcy case? If you feel discomfort of any kind you may want to continue reviewing possible attorneys for your case. You have to feel safe enough to put your financial concerns in the hands of your attorney. This will allow the process of bankruptcy to be much less uncomfortable and to proceed much more fluidly for a positive experience.