Some attorneys specialize in Chapter 7 bankruptcy. Chapter 7 is for individuals who are buried in debt and have no source of income to overcome the problem other than surrendering their assets to the designated court and allowing the court to make the appropriate decision regarding the distribution of wealth obtained from the sale of these assets, among your larger creditors.
Filing for Chapter 7 bankruptcy with the assistance of a personal bankruptcy attorney is less cumbersome than filing for Chapter 13 bankruptcy. This chapter reschedules your loans over a period of time based on your repayment capacity. It allows you to secure your assets and overcome your current financial difficulties in a much more dignified manner than if you were to file for Chapter 7 bankruptcy.
When choosing a personal bankruptcy attorney, it is equally essential to consider the fees associated with their services. The fees charged by attorneys vary. Others would charge based on the number of court appearances or consultation sessions, which is a less frequent practice. Cost of bankruptcy is a relatively straightforward procedure that can be accomplished with the assistance of experts in the field. The majority of attorneys include everything from the initial consultation to the completion of the bankruptcy registration process in their flat fees.
However, if the petition must be amended or the court requests additional documents because your paperwork is not in order, the personal bankruptcy attorney is permitted to charge additional fees for providing legal representation that was not included in the initial contract.
Filing for personal bankruptcy is one of the most important decisions a person must make when faced with dire financial circumstances. Therefore, it is essential to employ a personal bankruptcy attorney who has been recommended by friends or family or who is well-known in legal circles for his or her ability to deliver the goods in the shortest time possible.""
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