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Big business bankruptcies get most of the coverage on the news. In these reports you hear about teams of lawyers racking up hundreds of thousands of dollars in bills while taking a company through bankruptcy.
You bankruptcy case probably won’t be anything like these big business cases. On its face, bankruptcy isn’t a complicated process. It’s just a framework that will allow you to get your debt under control, and get a fresh financial start.
Nonetheless, it’s important that you get all the information on bankruptcy laws that you need to make an informed decision about whether bankruptcy is right for you.
We can provide you with a basic overview, but many people prefer speaking with a local bankruptcy attorney. directly about their personal situation.
We can put you in touch with a lawyer near you who can answer your questions, take you through the process and provide a free case evaluation.
Simply click the form below to get started.
Click Here For Free 2 Minute EvaluationHere are some basics bankruptcy law information that most people want to know before filing. If you have specific questions about your case, speak with a bankruptcy lawyer.
Getting eligible to file: Before you may file you must meet certain eligibility requirements. Everyone filing bankruptcy must first complete a credit counseling briefing.
Which debts will you include? Bankruptcy may address most debts, but not all. Student loan debt, for example, usually can’t be included in your filing. Chapter 7 bankruptcy may only address unsecured debt, such as credit card and medical bills. Chapter 13 bankruptcy can typically include more types of debt.
Bankruptcy may generally address debt relating to:
The Automatic Stay: One of the most powerful bankruptcy laws is the one outlining the protections offered by the automatic stay. This court order puts a halt to all collection efforts, including attempts at foreclosure, repossession, lawsuits and wage garnishment. The automatic stay is part of federal bankruptcy laws, and should be in effect for your case regardless of where you live.
Bankruptcy laws aren’t designed to keep people away. The system is meant to bring relief to all who truly need it. But too often, legal jargon keeps people from getting the real help they need.
If you’re still not sure how bankruptcy works, or if it’s right for you, consider meeting with a local bankruptcy attorney. Our sponsoring attorneys can answer your questions about the laws in your state, and give you a free case evaluation.
Simply fill out the free form on this page, or call, toll free, 877-349-1309, and we’ll connect you right away.
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