Consumer bankruptcy can be very overwhelming and is a source of stress for many Americans. For those faced with high credit card payments every month, it may be time to reassess and explore alternate choices. Many people worry that bankruptcy may hurt their credit further however late payments and missed payments are very damaging to a credit report. A Chapter 7 bankruptcy lawyer can easily explain the process of bankruptcy as well as the benefits and advantages.
Working with a Chapter 7 bankruptcy lawyer
In order to file for Chapter 7 bankruptcy, an individual must first qualify for this type of bankruptcy. The only way to do this is by taking a means test. The means test provides information to the courts about your financial ability to repay your debts. If you pass the means test, you can file for bankruptcy with the help of a Chapter 7 bankruptcy lawyer. The attorney will assist you with submitting all the necessary paperwork and completing your application so you have the best chance of an ideal outcome.
What happens next
After you file for Chapter 7 bankruptcy with your Chapter 7 bankruptcy lawyer, all credit collection attempts must cease. This means if your vehicle was about to be repossessed, your creditor can no longer seize your vehicle. The same is true of the foreclosure process and your home. If the courts rule favourably on your behalf, you can eradicate the majority of not all of your unsecured debt through bankruptcy. If you have the ability to catch up on past car payments, you may even be able to save your car as well as your home.
Making bankruptcy work for you
Some people hesitate to hire a Chapter 7 bankruptcy lawyer because they don’t understand how bankruptcy can work for them. However bankruptcy is a legal way to discharge unsecured debt that never has to be repaid. You are also fully protected from collection activity and you can regain your peace of mind once again. Starting over is refreshing and a Chapter 7 bankruptcy lawyer can show you how to do just that.
You can get the assistance you need from an experienced Chapter 7 bankruptcy lawyer who is here to help. They will guide you every step of the way and explain your options so you can move forward in your case.