If you are considering bankruptcy, you may have many questions. One of the best ways to answer those questions is by hiring a Phoenix bankruptcy attorney. These professionals will be able to explain what is involved and help you make the best choice for your situation.
A qualified lawyer can also show you how to make the most of your assets during a bankruptcy case. This can include selling some of your non-exempt property to pay off debts. However, it is illegal to hide assets during the bankruptcy process.
The first step to a successful bankruptcy case is to determine if you qualify. There are several different types of bankruptcy, including Chapter 7 and Chapter 13. Whether you file with your spouse or on your own, you should have a clear idea of what your financial situation is. You might be surprised to learn that you can discharge some of your debt even if you have a high income. In addition, it is often the case that you can keep your home.
Your attorney will be able to advise you on the different types of bankruptcy, and will make recommendations on which is best for you. For example, you might be able to keep your home in a Chapter 7 bankruptcy, but you may be required to surrender it in a Chapter 13 bankruptcy.
When it comes to debt relief options, filing for bankruptcy can be a great way to get your life back on track. However, you should be aware that the decision to file is a big one, and that it can be a daunting task. To avoid unnecessary delays or penalties, make sure you meet all of your filing deadlines.
The most important part of the process is to find an experienced and trustworthy Phoenix bankruptcy attorney. It is possible to do it on your own, but you will be far less likely to get the best results. Even if you are confident that you are eligible for bankruptcy, it is always a good idea to seek professional advice.
Whether you are filing for yourself or for your business, you should be prepared for the costs involved. Depending on the circumstances, your attorney may charge you a fee for his services. While it is usually reasonable, it can be quite expensive.
Some attorneys will offer a payment plan for a Chapter 7 bankruptcy. The fees are based on a variety of factors, such as the complexity of the case. Typically, you can expect to pay between $925 and $1500.
Choosing a Phoenix bankruptcy attorney is a major decision, but it can be an essential step to regaining your financial freedom. Be sure to ask your lawyer a lot of questions and find out what type of bankruptcy you should file and how much it will cost.
Almost everyone is faced with unexpected financial challenges at some point in their lives. Whether the challenges are a result of a loss of employment, illness, divorce, or other circumstances, they can leave you struggling to meet basic needs.