Filing bankruptcy is a difficult decision and shouldn’t be taken lightly. Understanding the bankruptcy laws and determining what type of bankruptcy you can file is critical when thinking about filing bankruptcy in your state. An experienced bankruptcy that knows the various bankruptcy laws is often recommended for those that are going to actually file for bankruptcy.
Your specific financial situation will determine what type of bankruptcy you will be able to file. The most common types of bankruptcy filed by individuals is Chapter 7 followed by Chapter 13. Chapter 7 is often referred to as a “liquidation” bankruptcy because most assets will be sold off or liquidated. Chapter 13 is referred to as a “reorganization” bankruptcy because the bankruptcy trustee will try to approve a reorganization or payment terms agreeable to creditors.
Regardless of your financial circumstances, if you feel that you need to file bankruptcy you should contact an experienced bankruptcy attorney in your area to ensure you fully understand your options. If you decide to file bankruptcy then the bankruptcy attorney will be able to file the necessary documents and ensure that the bankruptcy laws and procedures are followed.
You can find bankruptcy attorneys online using online directories or search directly within search engines for specific terms like “affordable bankruptcy attorney” or “experienced bankruptcy lawyer“. Below are a few of the most common lawyer directories: