The Services Provided by a Chapter 7 Bankruptcy Attorney in Wetumpka, AL

Bankruptcy isn’t anything to enter into lightly. With that being said, there are many people in the Wetumpka, Alabama area who are suffering from financial difficulties which’s only solution may be filing for bankruptcy. For personal bankruptcy filings, perhaps the most common type of bankruptcy is chapter 7 which offers many benefits; however, in order to get the ball rolling and make an accurate filing with the courts, consulting with a chapter 7 bankruptcy attorney in Wetumpka, AL is advisable.

There are many reasons for consulting with a bankruptcy attorney such as those at the Courtney & Mann LLP and the first is to determine if bankruptcy is the right option. For many people, bankruptcy can help to stop foreclosure and stop aggressive collection efforts made by existing creditors; however, there may be other options to avoid the credit hit of bankruptcy. In some cases, renegotiating terms with the mortgage company and negotiating lower interest with existing creditors, may help a person get back on track financially without having to file for bankruptcy.

Another benefit is knowing what type of bankruptcy a person qualifies for. For people in lower income brackets, chapter 7 is the best option because, while it may require some assets to be sold in order to satisfy some of the debt a person currently holds, chapter 7 is useful in eliminating many existing debts, thus helping a person to start with a clean slate. However, if a person’s income is too high they may not qualify for chapter 7 but may have to apply for chapter 13, which is more of a court-ordered repayment plan. With this option, a person repays their creditors over the span of 3 to 5 years.

In addition, the filing for bankruptcy can be quite long and complicated, hence, it’s best to have a chapter 7 bankruptcy attorney in Wetumpka, AL who is familiar with the process to help an individual through the filing process.

Whether it’s dealing with creditors, understanding the demands the courts have when filing for bankruptcy, or helping you overall through the entire bankruptcy process, an attorney is the best way to go. With the stress of being under financial duress, the last thing you may want to do is try to handle the bankruptcy yourself.