Filing personal bankruptcy is a daunting and emotional decision. Whether it was health related issues, lack of employment, bad judgment calls, or just bad luck that put you into a financial bind, making the decision to file is a process that can relieve stress. Unfortunately, the process itself can be pretty stressful.
One of the upsides to filing bankruptcy is the fact that you can hire a Professional Bankruptcy Lawyer in Prince Georges County, MD that has a lot of experience with bankruptcy cases and laws. They can hold your hand and lead you down the pathway to Chapter 7 or Chapter 13 bankruptcy. Once you decide to hire an attorney from a law firm such as Laura Margulies and Associates LLC to help you file, it would be a good idea to be aware of the responsibilities they have.
During the initial consultation with the bankruptcy lawyer you might be hiring, they are going to take a look at your financial situation. They want to understand your financial goals and they want to discuss what debt relief options you’ve explored other than bankruptcy. It is not uncommon for a Professional Bankruptcy Lawyer in Prince Georges County, MD to find their clients an alternative source of debt relief that does not have to include filing bankruptcy.
As soon as you hire a bankruptcy lawyer, it is their responsibility to take all of your collection phone calls. Legally, creditors can still contact you until you actually file bankruptcy. However, most of the time you can forward the phone calls to your lawyer once you hire one.
The biggest chunk of the work that the lawyer you hire is responsible for is the paperwork and the preparation. They have to prepare your bankruptcy petition. Depending on just how much debt you are in, this petition could be anywhere from 30 to 100 pages long. Your attorney will give you the opportunity to review the petition for bankruptcy that they draw up before they officially file.Once they file the petition you will be placed in an automatic stay and creditors will legally have to leave you alone at this point.