Bankruptcy Can Relieve A Human Being Of All Debt Except Taxes
1) Complete a Chapter 7 means test. find an attorney near me can get a pretty good idea if you qualify for a chapter 7 by looking at your income. Take your monthly income over the past 60 days prior to filing, minus any monthly expenses if there is very little left after this you could qualify. Also if your income falls below the median income for you state and family size.
If you file for a Chapter 7 bankruptcy, you may be able to keep exempt property such as your residence, trade or professional tools, unmatured life insurance contract, prescription health aids, Social Security, disability, illness or unemployment benefits, and proceeds from a judgment.
Before undertaking the bankruptcy process, ensure you have made the correct decision. Debt advisors are one of the many other avenues you can consider. If you file for boy scouts bankruptcy, a mark is permanently left on your credit. Therefore, before you do this, you should utilize all the other options that you have.
After finding your attorney, remember that he/she works for you and you are the boss. After all, you tell your dentist whether to care for a cavity, right? If you do not want a root canal, your dentist isn't going to perform one against your wishes. That same professional relationship exists with you and your attorney. The final decision on all actions are yours although it is normal for an attorney to be able to make the strategic legal decisions. But even then a lawyer can only advise and the decisions are yours to make. If an attorney does not follow your wishes, fire him/her.
Make sure the attorney you are hiring will be the attorney who handles your case. If you go to a large law firm you may speak to a partner who specializes in your type of case; however, that partner may pass your case to an associate with less experience. Be sure the partner will be representing you in court.
Determine the type of bankruptcy that is best for you and your situation. A lot of people do not realize that there is more than one form of bankruptcy. Research each type before you decide to file. Discuss the benefits and downsides of both with a financial professional to help you make your decision.
Look for someone you would be happy to have a drink with. If your relationship with your business lawyer is going to be successful, you need to connect with him (her) on a personal basis. It is to your advantage to let your lawyer into your life as a quasi-friend. For this to happen there must be personal chemistry.
What should you do when you find out your judgment debtor has filed for bankruptcy? First, stop all collection activities. If you have requested the Sheriff to levy the debtor's assets, call, and then fax or mail notice to the Sheriff that your debtor has filed for bankruptcy protection.
When you call the lawyer's office, how are you treated? Is this staff rushed or do they treat you like a welcomed visitor? Are they helpful? Are they empathetic? The lawyer sets the tone for the office. How her staff treats you is a good indication of how the lawyer will treat you.