Bankruptcy cases involve pretty diverse court proceedings. Individuals or business firms who do not have any option to pay off their debts. Tough economic conditions often lead to such difficult times for a few people and companies.
Factually, bankruptcy is the legal procedure in which the court unburdens an individual by either liquidating his assets or by reorganizing them, depending upon the type of bankruptcy chapter one is filing petition under. It is an intricate process that is hard for a common man to understand. Hiring a bankruptcy lawyer can be of great help in this regard.
GM Bankruptcy, Oakland Bankruptcy Attorney, Bankruptcy Lawyer Boston,
The two most common options that bankruptcy cases usually offer are:
Chapter 7 - This option is ideal for people who want to unburden themselves completely. Under this chapter, all non-exempt properties and assets are liquidated and distributed among the creditors to pay off the debts. As a person files a bankruptcy case under chapter 7, the court assigns a trustee who takes over the non exempt assets of the debtor concerned and pays off the creditors.
Chapter 13 - this is ideal for all those people who are interested to pay off some of their debts in lower or zero interest. This chapter involves restructuring of debts. A debtor needs to prove to the court that he has a reliable income source to pay off his debts within the given period of time. Thus, this chapter is meant for a person who has a proper job and is in a position to appeal for legal adjustments.
As we can see, a bankruptcy case involves many aspects that involve several complications. A bankruptcy lawyer can guide you through the court procedures, right from filling the paper-works till the court hearing. When you are looking for an attorney for your case, make sure to look for the following factors.
Professionalism - Your attorney must have professional skills. He should be able to handle complex court proceedings with tact and expert knowledge.
Certifications - A good lawyer must hold excellent certifications that can prove his skills in the field. Go through his certificates to have an idea of his professional background.
Experience - This is the most important factor when it comes to looking for a good attorney for your case. Your lawyer must have good experience in the field.
Hire an expert lawyer if you are thinking of filing a petition for bankruptcy. Riverside dwellers can now approach Miller and Associates, PC for professional legal advices.
Indianapolis Bankruptcy Lawyer
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of Indianapolis Bankruptcy Lawyer
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment