The Importance of a Bankruptcy Lawyer


February 18, 2012
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An Atlanta bankruptcy lawyer provides important services for those facing financial difficulties. You may not be aware of all your legal options. For example, it may be better to file a chapter 13 than a chapter 7. You may wonder if you can keep certain possessions like your home and vehicle. Your experienced attorney can answer any and all of these questions.

When you visit your attorney, you have the chance to go over your financial situation. You will have paperwork to fill out. This provides the attorney with a great deal of information. For example, you will need to list everyone that you owe and how much you owe them. You also will be asked to list everything that you own.

If you own a great deal of property and possessions, your attorney may recommend a chapter 13. This is recommended for those that are in higher income brackets also. Chapter 13 is basically a bill consolidation. You agree to make payments on your bills and agree to a specific payment plan.

Chapter 7 is available to those that make below average income. It is essentially liquidation, and you agree to liquidate all assets. However, you are allowed to except certain things and may be able to keep your home and car. Yet, there are guidelines and limitations for things that you can exempt. Your attorney will sit with you and discuss all of the important issues. This way, you can make an intelligent decision about your future.

If you are facing some serious financial problems, an Atlanta bankruptcy lawyer can be a great deal of assistance. When you are facing foreclosure or repossession, you should have professional legal representation. Your attorney can help you put a stop to harassing phone calls from creditors. You also can do something about your bills and obligations. This can relieve a great deal of tension and stress, and help you sleep at night.

 
 
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