Essential Information to Know Before Hiring Bankruptcy Attorneys in Casa Grande, AZ

Bankruptcy is a legal process that allows businesses and individuals to get rid of their debts, or pay them back under the protection of a federal court. Deciding to file for bankruptcy is a very tough decision; most people feel overwhelmed when bankruptcy is the only viable option to their debt issues. It is essential to take time and think about the decision carefully since bankruptcy affects the applicant’s life for a long period. In addition, there are certain types of debt that cannot be eliminated by bankruptcy under the federal law. To ensure that the bankruptcy process flows smoothly, it is essential to hire the services of proficient bankruptcy attorneys in Casa Grande, AZ. Here are some important details to know before filing for bankruptcy.

Types of Bankruptcy

There are two major types of bankruptcy: chapter 13 and chapter 7 bankruptcy. Chapter 13 bankruptcy is ideal for persons with a regular income since it allows the applicant to pay off their debts over the next 3 to 5 years, and allows them to retain their property. Chapter 7 bankruptcy allows the applicant to have most or all their debt discharged; however, the court may sell or liquidate the applicant’s property in order to pay their creditors. The applicant is allowed to retain assets that are exempt from under the federal law. It is important to note that a person may be prevented from filing for a chapter 7 bankruptcy if they have sufficient income to repair their debts under a chapter 13 plan.

Top Three Roles of a Bankruptcy Lawyer

  *      Filing the case: a proficient bankruptcy attorney will help the applicant complete all the paperwork and documentation involved in the filing process correctly.

  *      Providing legal counsel: an experienced bankruptcy lawyer can offer reliable advice on how to deal with legal actions and harassment from creditors.

  *      Discussions with creditors: a proficient bankruptcy lawyer will handle all communications on behalf of their client to make sure that they do not breach the bankruptcy code.

The bankruptcy process is usually long and complicated, but by hiring the services of committed bankruptcy attorneys in Casa Grande, AZ, the applicant can rest assured that the entire process will be handled professionally. For more information on the services provided by a bankruptcy attorney, please Click Here.