Do you want to stop those annoying calls from collection agencies? If so, a bankruptcy lawyer can help you keep your possessions and keep the creditors off your back.
When an individual or a business files for bankruptcy they are essentially asking the court to relieve them of their debts. In the U.S. there are specific courts that handle all bankruptcy rulings and bankruptcy lawyers present the debtors case before a judge.
A bankruptcy lawyer will first help you determine which type of bankruptcy filing will work best in your situation. There are several different options available when filing for bankruptcy. A chapter 11 is a reorganization of your debts, chapter 7 is a straight bankruptcy, chapter 12 is for farmers who have a regular annual income, chapter 9 is reorganization for municipalities, and a chapter 13 is a debt adjustment for individuals who want to keep their property. Bankruptcy lawyers are skilled in filing all the necessary paper work needed by the court to ensure there are no fines or delays due to mistakes or unorganized filing.
When bankruptcy lawyer files on behalf of a client, whether it’s an individual or, in the case of business bankruptcy lawyer, an entity like a small business or corporation, it is called a voluntary bankruptcy. There are many stipulations to bankruptcies, such as what bills can be discharged and what bills need to be paid, for how long payments can be extended, and under what chapter bankruptcy a debtor may file.