There are a lot of things that may compel a person to file bankruptcy, and the harassment from creditors heads the list. After hours phone calls at home or embarrassing calls to the office may drive a debtor to throw up his hands and cry “uncle.” If you can relate, your next move should be to contact a lawyer.
Bankruptcy used to be a simpler matter. The debtor conceded that his finances were in a shambles and that he could no longer handle them on his own. He filed a chapter 7 bankruptcy and a trustee was assigned to sort out the mess and divide the remaining assets among the debtor’s creditors.
As the laws have evolved the bankruptcy process has become more complicated. Not only are there more ways to go about filing but there are certain criteria to meet in order to be allowed to file at all. First you will be required to go through a credit counseling conference with an independent agency that has been approved by your local jurisdiction. This will determine whether or not there is any way other than bankruptcy for you to resolve your debt. Once you have been approved to file you will need to go through a means test which will define what category of bankruptcy you best fit into. After that there is the debt management course.
Even though it may seem confusing even overwhelming at times, there are definitely some circumstances that necessitate filing for bankruptcy. The thing to do is to have an experienced bankruptcy attorney by your side to advise you as you work your way through it. A qualified expert who is familiar with state and federal laws governing bankruptcy will be able to tell you what to expect at every turn in the road and how to prepare for it.
Visit the website, www.pakerlawyers.com and read what the most knowledgeable professionals have to say about bankruptcy law. Then call the offices of Parker Lawyers @ 303-841-9525 to ask more about your personal case.