If you are considering declaring personal bankruptcy as your best means of solving your current financial crisis, then you need to know the different types of personal bankruptcy that are available. Your goal is to get the most affordable personal bankruptcy solution and the best representation possible.
The primary reasons for filing personal bankruptcy are unforeseen medical expenses, excessive credit card debt, loss of employment, and out of control spending. Many of these events create financial difficulty as well as a tremendous amount of worry and stress. This makes it especially important that you consider all the available options and to make sure whatever action you settle upon is in your best interest.
As well as determining which type of personal bankruptcy is right for you, it is important that you make sure you choose the right personal bankruptcy lawyer. Conyers bankruptcy lawyers will take your concerns into account and will make sure you receive the proper representation in your personal bankruptcy case. Conyers bankruptcy lawyers will take care of all the necessary paperwork and will give you the quality legal advice necessary to successfully file your personal bankruptcy case.
There are two types of personal bankruptcy: Chapter 7 and Chapter 13. Chapter 7 personal bankruptcy involves liquidating your assets and turning them over to the courts. A trustee of the courts follows a court-supervised procedure, reduces your assets to cash, and then pays the creditors. State or federal law will exempt some assets in both types of bankruptcy. A Chapter 13 bankruptcy should be filed if you have valuable assets, such as a house, that you wish to keep. Under this type of bankruptcy, a repayment plan is established with the creditors over a period of several years. Your Conyers bankruptcy lawyers will review your records and paperwork and help you decide whether filing Chapter 7 or Chapter 13 personal bankruptcy is appropriate for your situation.
You can put an immediate stop to threatening and harassing calls from creditors by filing personal bankruptcy using the services of reputable Conyers bankruptcy lawyers. Once your personal bankruptcy has been filed, your creditors will no longer be allowed to contact you or to attempt to collect money from you.
Filing for personal bankruptcy offers you a better quality of life. You will no longer feel constantly stressed and you can get back to enjoying your life. As stressful as it may be to file for personal bankruptcy, keep in mind that you are working towards a clean slate and a new beginning.