Are you considering filing for bankruptcy in the near future? While bankruptcy can be a valuable tool for those trying to reclaim their financial future, it’s important that it’s done the right way from the start of your case until it’s closing. If you’re looking to get a fresh start with your finances, here’s why you may want to consider speaking with an attorney about Chapter 7 bankruptcy:
The Benefits of Filing A Chapter 7 Petition
You are probably aware that there are different types of bankruptcy petitions. When possible, a lot of debtors choose Chapter 7 bankruptcy for the following reasons:
- Chapter 7 bankruptcy does not take nearly as long as Chapter 13 and other types of bankruptcy. While other cases can take years to resolve, most Chapter 7 cases are opened and closed within six months.
- Filing a Chapter 7 petition means that you don’t have to worry about paying back most of your unsecured debts. Those debts will be wiped clean, and you’ll get a fresh start on a new financial future.
- With a Chapter 13 bankruptcy, the courts keep a close eye on your future income because you still have to be able to repay some of your debts. In a Chapter 7 case, future income has no bearing on your case.
Why You Should Hire An Attorney For Your Case
You can file a petition without the help of a bankruptcy attorney. However, you need to know that having one on your side is beneficial to your case because:
- Chapter 7 bankruptcies require that you take a “means test” to make sure you’re your income is low enough to allow you to file. Your Chapter 7 Attorney can help you figure out whether or not you meet the requirements.
- There is a lot of paperwork and legal jargon to sift through. If anything is missed, you could end up risking your case. Your attorney will help you make sure that everything is done correctly and that no stone is left unturned.
Trying to regain control of your finances can be tough, but filing for bankruptcy with the help of a qualified Chapter 7 Attorney can be a step in the right direction. If you’ve found yourself in over your head in debt, call the law office of James E. Hitchcock today to discuss your options for finding a way out of your financial trouble today.
