How a Bankruptcy Lawyer Can Help You File For Bankruptcy
When people or companies find themselves unable to make payments on debts that they cannot afford, they may seek help from a Bankruptcy Lawyer in Phoenix Arizona. This is a legal process that can protect the assets of individuals and businesses, eliminate debts and allow them to start fresh.
It is important to hire a lawyer with the right experience and qualifications. Choosing an attorney who is not familiar with the bankruptcy process can lead to problems during your case.
A good attorney will be knowledgeable about the law, and will be able to explain it in clear language that you can understand. They will also be able to advise you on how bankruptcy works, and what options are available to you in your specific situation.
They will be able to help you file for Chapter 7 or Chapter 13 bankruptcy, and they will be able to explain how these types of cases work and how to best prepare for them. They will also be able to guide you through the court-mandated credit counseling process and help you develop a plan of action that will allow you to pay your creditors.
You will need to be able to communicate with your attorney during the filing process, and your lawyer should remain open and honest about any issues that you might have during your case. This will ensure that you receive the assistance you need to get through the bankruptcy process as painlessly as possible.
Your lawyer should be able to locate any financial records that you need in order to complete your bankruptcy paperwork. This will help you avoid any creditor requests for a 2004(a) examination, which is an additional detailed investigation into your financial situation.
This will save you time and money, as well as prevent any errors from occurring in your case.
Once you’ve hired an attorney, they will begin the process of filing for bankruptcy by asking you a series of questions about your debts and assets. They will also want to see your current income, expenses and other financial documents. They will use this information to determine your filing eligibility and decide which bankruptcy option is best for you.
They will then be able to draft the official forms for you to file with the court. They will then review the forms with you, making sure they are accurate and complete.
Your lawyer will then be able to file your bankruptcy petition and schedule a meeting of creditors, where they will ask you about your financial situation and how much you owe. This is a mandatory meeting that must be attended by all bankruptcy debtors.
The meeting will last about an hour and is usually held at the bankruptcy trustee’s office. Your lawyer will attend this meeting to provide any additional documentation that is requested.
It is important to remember that there are no guarantees in life, and bankruptcy is not a surefire way to get out of debt. However, it is an excellent option to consider if you are struggling financially and do not have other options.