Bankruptcy Attorney-How To File Bankruptcy To Discharge Credit Debt

A bankruptcy attorney should be contact when your considering filing. The first thing anyone who is concerned with filing for bankruptcy should know is that there are two kinds that are claimed through federal courts. There are Chapter 7 and Chapter 13. The first type concerns paying off a debt with personal assets, while the second kind incorporates income as a form of payment. To better under stand how this system works, you will want a highly experienced attorney who specializes in these types of cases. If you would care to know how to carry this process out with the help of a lawyer, read on for advice.

First off, gather all the personal asset information that you can. This includes all the documentation concerning your debts, such as mortgages on a house, car payments, unpaid bills, or credit card debt. You will need all of this information before taking any other steps towards filing.

Next you will want to find and meet with an bankruptcy attorney who specializes in this type of case. This decision is gravely important, as this retainer can be costly. You want the best help you can get, as this system is complicated. However, you also want assistance that you will be able to afford. It is wise to meet with a couple different lawyers before making a decision. Ask for advice on which particular chapter you should file for. Chapter 7 will be ideal for someone with assets, as Chapter 13 will be more suited towards those with healthy incomes and assets.

The following step will involve you working with your attorney to create a petition and to file it with the Bankruptcy Court. Your legal retainer will need your help in filling out all paper work before filing for either chapter. Be sure to gather all addresses and contact information of all your creditors so they may be notified of the impending filing.

You will have to attend each of the hearings and to complete the bankruptcy plan as deemed necessary by the Court. The initial hearing will most likely be a First Meeting of Creditors. This will include all your creditors, your lawyer, and your assigned trustee. Following this step, there may be a second hearing to decide and confirm your plans for all parties involved.

With so many potential creditors, documentation, hearings, and legal fees to deal with, you will want the entire process to run as efficiently as possible. This means finding the most qualified attorney that you can afford, making sure you have all the information regarding your debts and creditors, choosing the most practical Chapter to file for, and attending all hearing as necessary.

A bankruptcy attorney is not a hard thing to find, but knowing who best suits your needs and is easiest to work with is a matter of weighing your options. Take your time and consider more than one lawyer, as there should be plenty to choose from. Asking for references and if your retainer studied in the criteria necessary is also important to look into.