There are few things more important than declaring bankruptcy. When this financial decision has been made it is imperative to hire a Lawrence, KS bankruptcy lawyer to advise you on your rights and to assist you in completing this complicated legal procedure. It is not advisable to declare bankruptcy in the absence of a lawyer as there are far too many complexities for just anyone to fully understand and appreciate.
In most cases, a Lawrence, KS bankruptcy lawyer will provide an initial consultation at no charge. One of the big surprises that most people get when they do first talk to the lawyer is to find out that filing for bankruptcy costs money. The petitioner must pay the court costs and administrative charges and, of course the lawyers fee. Depending on the complexity of the bankruptcy, the fee can vary from $1,000 to even $2,000. In the long run these fees will help rid you of debt.
As you will be getting a lawyer, make sure you get an experienced one. Get in touch with the state bar and ask for recommendations, or if you have had past dealings with another lawyer, ask him or her for names, because many lawyers know of one another and their unique skill sets. Once you find the right lawyer, he or she will be happy to share with you, their specific qualifications.
When you file for bankruptcy, don’t think that you are alone, every year in the US over 1.6 million people go through bankruptcy procedures. Individuals have two choices, Chapter 7 and Chapter 13. Those who have very little in the way of assets will always elect Chapter 7 as upon completion most of their debts are forgiven. Chapter 13 is a bit different as it is of more use to an individual who has significant assets and hopes to keep them. As long as he and his lawyer can prove to the court that the debts can be reorganized and paid in a three to five year period, then Chapter 13 is the best solution.
Just because you hire a Lawrence, KS bankruptcy lawyer does not mean you have to carry through with them. Many lawyers are also mediators and they can often help in establishing a debt consolidation plan which will lower the monthly payments and perhaps let the individual work his way out of debt and retain his credit rating.
If you wish to consult with a Lawrence, KS bankruptcy lawyer you are invited to call Business Name.
