Are you struggling with debt that simply can’t be paid? This can be a stressful situation which may seem to never get better. The key to getting over this financially difficult time in life will be by seeking a bankruptcy lawyer Piqua OH to assist you.
Bankruptcy is a legal status which must be approved by a court of law. The person seeing a specific type of bankruptcy must work with a legal expert to fully qualify for eligibility. There are various legal requirements for each bankruptcy.
The Chapter 7 Bankruptcy
When an individual is experiencing financial difficulty, this is the time to choose the Chapter 7 bankruptcy. This will allow the person to quickly obtain relief from the debt once eligibility has been established.
This type of bankruptcy requires three forms to be completed by the person filing and these are listed below:
A form must be completed which states the annual or monthly income of the person filing bankruptcy. This individual should provide a W-2 or past pay stub to prove this is the income earned.
A form which states the amount of debt owed to the creditor should be completed. This will individually list the amount of debt and the name of the company.
A form which lists monthly expenses of the person working to apply for the bankruptcy. These should include the costs for shelter, food or clothing.
By completing all of the forms listed above, this will allow you to become eligible for achieving the legal status of filing for bankruptcy.
The Benefits of Chapter 7
The largest benefits of being a successful applicant, when filing for a Chapter 7, are the almost immediate relief from debt for the person. This will assist in the reduction of the stress associated with financial problems.
Also, debt collectors will stop calling your home and demanding payment is made. This will assist in creating a much less stressful environment for the individual and this is a huge benefit.
Finally, by relying on Shipman Dixon & Livingston Co. L.P.A to assist with the filing of bankruptcy, you are certain to have greater success.