It might take time, but before you decide to petition for bankruptcy, consult with a number of different lawyers from your area. You’ll want to make sure that your lawyer has all the resources and knowledge that your case needs.There are some lawyers that focus on the bankruptcy of Chapter 7. Chapter 7 deals with cases of individuals who are deep in debt and have no source of income to solve the problem, except by surrendering the assets to the designated court and allowing them, among your larger creditors, to take the appropriate decision regarding the disbursement of the assets acquired from the sale of these assets.Find additional information at Haltom City Bankruptcy Attorney.
It is a less tedious process to file for bankruptcy under the expert guidance of a personal bankruptcy lawyer than to file for bankruptcy under Chapter 13. Under this chapter, your loans, depending on your repayment capacity, are reprogrammed over a period of time. It gives you the opportunity to protect your assets in a much more dignified way than losing all your assets when you choose to file under Chapter 7, and to overcome the situation of present financial distress.
It is equally important to understand the fees that you would incur for using their services while selecting a private bankruptcy lawyer. The fees vary from one attorney to the other. While some would charge a flat fee, which is a more popular practise, others would charge for the number of court visits or consultation sessions.
Bankruptcy costs are a relatively straightforward process that can be done professionally with the help of industry experts. Most of the lawyers would cover everything in the flat fee they charge from the initial session to the moment the bankruptcy filing process is completed. However, if the petition has to be amended or if your documents are not in order, the court requests certain additional documents, then the personal bankruptcy lawyer is entitled to charge some additional fees for the provision of additional legal representation not covered by the initial contract.
Richard M. Weaver Bankruptcy Attorney
5601 Airport Freeway, Haltom City, TX 76117