Filing for bankruptcy is often seen as a last resort for those struggling with debt. It can feel like a daunting process, but it is important to remember that it is also an opportunity to regain control of your finances. However, the bankruptcy process can be complicated and overwhelming if you do it alone. This is where a bankruptcy lawyer comes in. In this blog, we will discuss the importance of hiring a bankruptcy lawyer and when is the right time to file for bankruptcy.
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Filing for Chapter 13 is not a simple process. Filers are asking the court to adjust what they owe so they can subsequently complete a repayment plan within typically a three- to five-year timeframe. A Chapter 13 bankruptcy attorney will be happy to help you understand the process of restructuring your debts, and you can speed things along by discussing these five questions.
Is Restructuring Debts Right for You?
Generally, the people who benefit the most from Chapter 13 are folks who have significant secured debts.
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Is your home going into foreclosure and you're not sure what to do? You will likely need the help of a foreclosure attorney to assist with the process and help save your home. Here is how it will work to use a foreclosure attorney.
Slow Down The Foreclosure Case
One huge benefit of using a foreclosure attorney is that they will help slow down the foreclosure process. This will give you more time in your home so that you can figure out what to do to keep your home.
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Even though a chapter 7 bankruptcy filing is overseen by what is known as a bankruptcy court, few filers go through a court experience. The only thing that comes close to a courtroom experience is at the creditor's meeting. Read on and find out how a creditor's meeting might be thought of as a more casual courtroom situation.
Who's in Charge?
The creditors' meeting, in nearly all states, is presided over by your trustee.
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The chapter 7 bankruptcy process is marked by several milestones. As far as filers are concerned, though, the creditor's meeting is the main hurdle many people face. Once this meeting takes place, much of the tasks expected of the filer have been done. Your work, however, is not yet complete. Read on and find out about a few loose ends that need to be cleaned up before you can receive your final chapter 7 bankruptcy discharge.
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