There are two categories of bankruptcy lawyers: commercial bankruptcy lawyers who can help you apply for bankruptcy protection for your company, and consumer bankruptcy lawyers who can help you apply for bankruptcy protection for yourself or with a spouse or friend. When you are seeking bankruptcy protection, you will need to find a bankruptcy attorney who is experienced in the various forms of this law. In general terms, the most common type of bankruptcy is chapter seven bankruptcy. The purpose of this type of bankruptcy protection is to restructure your debt so that you can make your monthly payments. Chapter seven bankruptcy also gives you some tax breaks, which makes it an attractive option for many people. When you are looking for a bankruptcy attorney, there are a few things that you should consider:
Most people elect to file for chapter thirteen bankruptcy protection when they cannot manage their debt. Generally, you cannot elect to file chapter thirteen until you have had a bankruptcy attorney to evaluate your financial situation. Because chapter thirteen bankruptcy can be complex, you will need an attorney who has experience dealing with the complications of this type of protection. Chapter thirteen bankruptcy also comes at a low cost, so many people elect to file this protection.
If you elect chapter thirteen bankruptcy protection, you will generally have to appear at a free consultation with an adversary lawyer. The representative of the creditor will come to meet you at your home or place of employment. The meeting is generally free of charge, but you may be required to pay certain expenses if you agree to have the pro represent you. You should plan ahead and make sure that you are ready to present your case for chapter thirteen before the meeting. Check out this website to hire the best bankruptcy lawyer today: meredithlawfirm.com/myrtle-beach-bankruptcy-law-office/.
One thing to remember about the free consultations that many consumer bankruptcy lawyers offer their clients is that the creditors do not usually agree to have their debts discharged. Many times, creditors will try to negotiate new deals with their clients to prevent them from going to bankruptcy court. Again, you should prepare for this meeting and make sure you understand what it is you will be agreeing to.
Often, the creditors will add additional fees to the debt that you owe. This makes the new agreement more difficult to pay off. In addition, many times the creditors will demand that certain payments be made in order to seal the agreement. As you can see, this process is not easy on the debtor. Therefore, the bankruptcy attorney will need to prepare for these types of situations and protect your interests.
Consumer bankruptcy lawyers can help you if you find yourself in this type of situation. Although you may be able to file on your own, hiring a bankruptcy attorney may be a better choice. Remember, it is very difficult for the bankruptcy trustee to recover any additional debt that is unsecured once you have filed for bankruptcy protection. Therefore, it is important to get the advice of the experienced north charleston bankruptcy lawyers when you are in this situation. If you probably want to get more enlightened on this topic, then click on this related post: https://en.wikipedia.org/wiki/Insolvency.