If your debt has piled up so much so that you can no longer even fathom trying to make payments on any of it, or if your utility companies are threatening to turn off your power or water due to non-payment, it might be time to look in to bankruptcy. While no one wants to do this, sometimes it’s the only way you can save yourself from losing everything, including your home. If your income is simply not enough to pay your bills or any outstanding debts, you’ll likely be looking at chapter 7 bankruptcy, and you’re going to want a good lawyer to help you through the process.
When you meet with a bankruptcy lawyer, he will explain to you what will happen if and when you file for chapter 7 bankruptcy. Generally, it involves liquidating any assets you may have, though in most cases your home and your vehicle can be excluded. Any monies produced from the liquidation of assets will be used to pay off as much as possible to your creditors, though chances are it won’t be enough to cover everything. There are certain things that also cannot be covered under a chapter 7 bankruptcy, including mortgages and car payments, so there is the possibility that you could still face a foreclosure or repossession if you are unable to make these payments. Another debt that cannot be erased under chapter 7 is child support. Ultimately though, a chapter 7 bankruptcy is essentially giving you a chance to start fresh without the burden of your past debts. In order to be successful in filing for this type of bankruptcy, you’ll absolutely need to hire a competent bankruptcy lawyer.
Your lawyer will fill out and file all necessary paperwork to submit to the courts. As these documents can be long and difficult, it is strongly advised that you not attempt to do this on your own, because a mistake can cost you your case, and then you’ll remain stuck with your debt for a period of time before you’ll be allowed to file once again. By getting help from a bankruptcy lawyer when filing chapter 7, you can feel safe knowing that the person you’ve hired is an expert in this area of the law and will know how to present your case correctly the first time. Additionally, once your lawyer has submitted your paperwork to the courts, your creditors are no longer legally allowed to harass you, nor are utility companies allowed to discontinue services to your home.
By getting help from a chapter 7 bankruptcy lawyer, you can help yourself start over without debt hanging over you, and hopefully you won’t make the same mistakes twice.
Do you need a chapter 7 bankruptcy lawyer in Milwaukee, WI? Credit Solutions, SC is ready to help you. They provide assistance until your bankruptcy case is closed. Visit them online!
