Share:

For borrowers overwhelmed by debts they cannot pay, a Chapter 7 bankruptcy can provide welcome relief and a second chance. However, for many people, the idea of filing for bankruptcy seems difficult and intimidating, especially if they attempt to initiate the process alone. With the right bankruptcy lawyer on your side, though, it is actually relatively straightforward.

Meeting With a Bankruptcy Lawyer

Before you can file for Chapter 7 bankruptcy, you must demonstrate you qualify. If you make less than the median income for your state, you're likely eligible, but those who make more will be subjected to a means test. Your attorney will perform these calculations for you and will also classify your debts to ensure as many of your creditors are included in the filing as possible.

Credit Counseling

No more than six months before filing your petition, you must complete a credit counseling program administered by an agency approved by the court. These courses can often be completed online, and some low-income applicants may be able to have the fees waived or reduced.

Filing the Petition

bankruptcy lawyerThe paperwork involved with filing for a Chapter 7 bankruptcy is often complicated, even if you think your financial situation isn't. This step is also best left to a skilled bankruptcy lawyer, who has the experience to avoid the kinds of mistakes that cause unnecessary delays.

The Meeting of Creditors

At this meeting, which is often the only personal appearance you will have to make, you will meet the trustee, who will identify any property that may be seized, check your paperwork, and review your finances to see whether you have transferred valuable assets. While creditors do have the right to attend this meeting, their representatives rarely do.

When you need a skilled bankruptcy lawyer to guide you through this difficult process, call The Law Office of W. Randall Holcomb PLLC in High Point, NC. Their debt relief attorneys will ensure you begin the next phase of your life with as little debt as possible. Visit their website to read more about their reputation for delivering results, call (336) 888-8760 to schedule a consultation, or follow the law firm on Twitter today.

tracking