Chapter 7 bankruptcy allows filers to keep their assets and receive forgiveness of most debts owed. Attorneys like those at O'Neill Law Firm in La Crosse, WI, can play a critical role in protecting your interests and finances during a bankruptcy, even if you believe there’s nothing left to save.

To assist you, they’ve answered some of the top questions regarding the chapter 7 bankruptcy process:

• How Long Does The Process Take? In most cases, this type of bankruptcy filing will span four to six months.
• What’s The Average Cost to File? The average filing fee is $335.  Attorneys fees can be discussed at the initial free consultation.  
• How Soon Can You File Again After Filing Bankruptcy? Usually there is an eight year bar to filing again, depending on the type of bankruptcy you file.

Although the thought of filing for bankruptcy can be depressing, there are some benefits to making this decision:

• The Automatic Stay: A law firm knows the ins and outs of bankruptcy and its benefits. They will tell you that one of the biggest incentives after filing bankruptcy is the automatic stay. This prevents creditors from taking legal action to collect debts, including wage garnishments, asset seizure and more. A lawyer can explain how and why you should take advantage of the automatic stay.
• A Fresh Start: When you file a chapter 7 bankruptcy, you are placing all of what you own in the hands of the court. This may seem like a huge roadblock to your financial health, but there’s a light at the end of the tunnel: whatever you earn or own following this filing, is yours to keep.

Specializing in various types of law, visit O’Neill Law Firm online or contact them at (608) 519-3551 if you need help from a seasoned divorce attorney, bankruptcy attorney and criminal defense attorney.