Let’s face it, times get tough and life happens. We’ve all faced situations where we’ve bit off more than we can chew when budgeting for our daily life, or maybe you were in some sort of accident and left with some major medical bills or other forms of payments. You’re down to your last dollar and don’t know where to turn. Filing for bankruptcy can be your way to a financial fresh start.
Bankruptcy is a court proceeding by which a court and judge statute examine the resources and obligations of businesses and individuals who can not cover their bills and decide whether to release those debts consequently they’re no more lawfully required to cover them.
Bankruptcy laws were written to offer people whose financing failed, a opportunity to begin. Whether it had been lousy conclusion or bad fortune, law makers might notice that being in a capitalistic market, businesses and consumers that weren’t given the best luck of the draw, want another chance and will choose to file for bankruptcy and almost all of them are approved and discharged of their debt!
Filing for bankruptcy has helped countless people in the United States with their overwhelming debt. The government put the option to file for bankruptcy in place for that reason, they know that life happens and everybody needs some help sometimes. They also knew that everyone deserves a second chance when it comes to their financial freedom and filing for bankruptcy is just that. Filing for bankruptcy is a second chance you’re given after either making poor financial choices, getting caught in emergency situations or simply being found in dilemmas that you just needed the money.
Before you file for bankruptcy, it starts with gathering all of your financial records such as assets, debt, income and basically any other expenses. This not only provides you a far better knowledge and realization of one’s own situation, but in addition gives anybody assisting you and the court system a much better grasp of the gravity of your situation.
The next step towards filing for bankruptcy is, you must get credit counseling within 180 days of filing a case. The counseling has to be from an accredited provider listed on the US courts site, however, this inst difficult as most counselling agencies provide this service on the internet or on the telephone.
The judge requires this because he or she would like for you to try your best and be absolutely certain that you’ve tried everything possible to find another method to relieve your financial situation. You will get a certification of completion from the course. This certificate needs to be part of the documents you collect while preparing to file for bankruptcy or your attempt to file bankruptcy will be refused.
After taking care of the pre-requisites, you must then file the request for bankruptcy. If you haven’t filed for bankruptcy before or haven’t done so yet at this time, you might realize that you really want to look for a local bankruptcy attorney to help you handle your case. A lawyer isn’t required for you to file for Chapter 7 or Chapter 13 bankruptcy, however, having an attorney who is very experienced in litigating bankruptcy cases will prove extremely beneficial. Representing yourself when filing for bankruptcy puts you in serious risk to not be approved for your discharge due to a simple mistake that you might accidentally overlook.
If you try to represent yourself when filing for bankruptcy, you might not know state or federal bankruptcy laws or know which laws are and aren’t applicable to your scenario, specifically, you might not know about what debts may or may not be permitted to be discharged. Judges and other court employees involved in a case aren’t allowed to provide any advice so you’d really be all on your own.
If your request is accepted, a court trustee will set up a meeting with your creditors. You must attend this meeting, however the creditors usually do not need to be there. This is a chance to allow them to ask you or the trustee questions questions about your petition for bankruptcy,
In the event that you do find yourself looking to hire an attorney to help you or a loved one file for bankruptcy, look no further. LG Law has helped countless people in Southern California file for bankruptcy with a 99% success rate! Let us help you receive your financial fresh start today!