For the average person struggling with debt the option of bankruptcy can be both an appealing way out of a never ending hole and a potentially paralyzing prospect of unknown outcomes. The mere idea of it can raise a dozen questions and the answers will vary state by state. Having a dedicated lawyer at your side can help make a complicated process easier. It is better to hire a lawyer who specializes in it for the simple reason that a lawyer who works exclusively in this field will be better equipped to answer your concerns and will know the court systems inside and out.
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By the time most people come to the brink of the money may be a scarce commodity and many may question the need for a bankruptcy lawyer to file court papers on their behalf. However a lawyer does more than simply fill in the blanks of legal forms and rubber stamp them into court. In addition to preparing a petition and filing it with the courts your attorney also will go over the details of it. The courts demand to see an itemized list of what expenditures a filer has in addition to what debts the filer is carrying. The court also wants to know what assets a potential filer possesses.
What type of bankruptcy a person files is dependent on a variety of factors. For example Chapter 7 moves to liquidate assets and pay debtors as much as possible before the debts are discharged. This is one of the most common types of bankruptcy that an individual will use. Chapter 11 on the other hand is geared towards business to reorganize and continue in business. While chapter 13 works with creditors to make a payment schedule to pay down the debt without fully discharging it.
Even for the clients that are considered judgment proof becomes a viable option to stop creditor harassment and emerge with a fresh start. Being judgment proof simply means that creditors will not sue to get a court order for payment because the debtor has little to no assets of value to seize. The debtor can also be considered judgment proof if the only source of income is exempt from garnishment such as unemployment, social security or other government assistance. In the end anyone in the position of declaring bankruptcy is better off working with a attorney than trying to do it alone. The paper work involved is redundant and considerable and one mistake can mean the case is dismissed or an important debt is left off the judgment order.
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