If you’re filing for bankruptcy, you want the best lawyer. However, many people aren’t exactly sure what the role of a bankruptcy lawyer actually is when you are filing for bankruptcy. Knowing their part in your process is imperative to being able to select from the top lawyers in your area and understand what is happening during court.

 

What is bankruptcy?

 

Before you can hire the best lawyer, first you need to get a handle on what bankruptcy actually is and what it means. It’s more than just simply saying you can’t pay your bills. Instead, it is a sometimes long and often complicated process that requires you to have to make a variety of different decisions during the course of the court case. This starts at first filing and doesn’t stop until after court is finished and your debts are cleared (discharged). This is why have one of the top lawyers on your side can streamline the process and also explain things to you so that you can understand and make the best decisions in an informed manner.

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So, what does a bankruptcy lawyer actually do?

 

As stated above, the best lawyers will start from the second you think about filing bankruptcy. They’ll walk you through the process and explain to you what your options are and if bankruptcy is, in fact, the best decision for you. Often they’ll have prepared worksheets to help evaluate your debt to asset ratio. If it isn’t, the best lawyers in the bankruptcy field will talk you through your other options instead of trying to talk you into doing something that isn’t right for you. Many people aren’t aware that certain types of debt (student loans, for instance) are actually not eligible to file bankruptcy on. Someone who has the majority of their debts in student loans should consider other options before filing. If you decide to proceed, they will be there during all of the court appearances and meetings with your creditors to be your voice and make sure you understand everything that is and will be going on. They also are regularly available outside of court for any questions you might have for a top lawyer.

 

What types of bankruptcy are there?

 

According to top lawyers in bankruptcy, there are two different types of bankruptcy : Chapter 7 and Chapter 13. Chapter 7 is more of a liquidation of your debts, and is often the quickest and most simple type. The majority of your debts will be forgiven (as long as they’re eligible), but you’re often able to keep your car and/or your house. With Chapter 13, you’ll actually agree to repay some of your debts through a court approved payment plan. This can help you manage things and is less severe than Chapter 7, but it takes longer to file. This is why it’s important to hire one of the best lawyers available.

When filing bankruptcy, it’s important not to go into it on your own. Hiring one of the top lawyers will provide you with the expertise, knowledge and security of knowing you have an experienced professional helping you help yourself. See more this site: http://www.hobbsforcongress.com/role-bankruptcy-lawyer/