Bankruptcy

When you as an individual or a couple are having a difficult time paying the monthly bills, the mortgage, the car loan, credit card payments, etc. and find yourself falling further and further behind each month, it might be time to file bankruptcy. Although the current bankruptcy laws are more complicated than they once were, the right attorney can help you obtain the necessary documents and guide you through the process.

The first step is gathering the necessary paperwork which includes six months of paycheck stubs, the last three years tax returns, a list of all of your creditors and a copy of the bills, a credit report, car titles or memorandum titles, real estate and personal property values, etc. The current bankruptcy laws require you to take a credit counseling course prior to filing. This is done over the internet or the telephone. The right attorney can make this complicated process run smoothly.

The attorney will prepare all of the bankruptcy documents and attend the creditor's meeting with the client. She will also prepare and complete any reaffirmation agreements. The client must take a financial management course prior to your debts being discharged. When the debts are discharged they are basically erased.

Most individuals who fit into the category for Chapter 7 Bankruptcy are able to keep their possessions but eliminate the debt on credit cards, hospital bills, unsecured loans, etc. There is also an income guideline which one cannot exceed for filing Chapter 7.

If you feel that you are over your head in debt and see no way out, then filing bankruptcy might be the answer.

• Personal Injury
• Worker's Compensation
• Social Security Disability
• Guardianships an Power of Attorney
• Wills and Estates
• Domestic Relations
• Bankruptcy