When a person is facing bankruptcy, they need to hire a lawyer to help them decide which type of bankruptcy will be better for them to file and to make sure all of the paperwork is properly filed so there are no unnecessary delays in the process. When one hires a bankruptcy lawyer, it is important the person knows what to expect from the lawyer so they will be prepared for the process.
A bankruptcy lawyer should fully offer legal advice on the following:
- The lawyer should advise a client on both types of bankruptcy that are available to them along with their pros and cons, so the client can make an informed decision on which one will be most beneficial for their needs.
- Lawyers should also completely explain the process so the client fully understands what they can expect from filing.
- A lawyer should also give information on whether or not the person can expect any difficulties or risks that may result in filing.
- Lawyers should be able to inform their client on how filing for bankruptcy will benefit their financial goals.
A lawyer should be fully prepared to make sure a client fully understand the implications of filing for bankruptcy. There are two main options one can choose for filing, of which chapter 7 is the fastest and allows a person to be free of their debts within six months.
Chapter 13 takes a longer period and generally allows a person three to five years to pay off their debts. With both bankruptcy options, there are pros and cons, and a lawyer will be able to help a client determine which option will be beneficial in helping them resolve their debts and be free of them so they can secure a better financial future.
If you feel you are drowning in debt and do not see a way out, a lawyer can help you. For more information on filing for bankruptcy, visit Davidskohmattorney.com, a site that will give you the information you need so you can make an informed decision on whether or not bankruptcy is a viable option.
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