When looking for bankruptcy services it is important to interview firms with a proven history of getting things done. Any legal proceeding is bound to have challenges, and an experienced attorney can help things to go smoothly. While you can file bankruptcy on your own, we do not recommend it because the chances of your case being thrown out are much higher. Simply filing is not enough. You need a judge to certify your bankruptcy before it becomes official.
Before you file, it is important to have a consultation and consider what your end goal is. For example, do you want a clean slate where you literally walk away and start over or do you want to repay some of your debts and keep your car and home? These are important things to think about prior to filing, as they will determine if you should select a Chapter 7 or Chapter 13.
Our professional bankruptcy services include a free consultation where our lawyers will listen to your goals and discuss your situation. This will enable us to make a recommendation as to how you should proceed. Once retained as your attorney, we will prepare the documents necessary for you to file for bankruptcy.
If you select Chapter 7, this is a liquidation bankruptcy. In most cases, the court will evaluate all of your assets to determine what can be sold to pay off debts. We can, at times, prevent your primary residence from being sold as part of this process. This will likely depend on how high your debts are and if you have significant equity in your home. If the equity is enough to pay your debts, your home may need to be sold.
In Chapter 13, you are able to make a plan for repaying your debts. Each creditor will likely receive a settlement amount that is lower than what you would owe if it was paid it in full. This is still better for creditors, because they are receiving some form of payment. We will help to create your repayment plan as part of the bankruptcy services we provide. This plan needs to be based on an accurate representation of how much money you make on a monthly basis and what your living expenses are. Living expenses need to include your rent or mortgage payment, car payment, utilities, medical expenses, food, gas, etc. This needs to be as accurate as possible without inflating the numbers. The amount of money you have left over after paying living expenses should go towards debt repayment.
Creditors have the opportunity to present their case and dispute your bankruptcy filing. They can claim that you make more money, have the resources to pay them off or battle for a larger piece of the pie. The court will eventually decide whether or not to approve your bankruptcy and if any modifications need to be made to your plan. We will advocate for you and make sure that your bankruptcy goes through smoothly.