Are you worried what Chapter 7 bankruptcy may cost the earth in terms of time and money?
If you are confused, you need legal help.
Are you contemplating getting assistance from “one of the best Chapter-7 lawyers near me”?
It is certainly a good idea to do so.
After all, one must keep in mind that the entire Chapter 7 bankruptcy process can take about 6 months along with costs, such as filing and administrative fees, and with an occasional trip to the courtroom.
Credit counseling will also help.
How does a credit counselor or a debt counselor help?
They can be a good source of help to fall back on when you feel you will never be able to pay off huge loans and car bills.
A good debt counselor empowers the consumer to stay focused on his/her financial goal to resolve their unique issues.
Primarily, the debt counselor structures a debt management plan that is tailored to your needs.
It will essentially be based on priorities, for example whether it is a mortgage payment or rent or any other.
Other things to keep in mind are transportation, utilities, food, and medical bills.
A smart counselor will liaison with an agency and collaborate with a plan in which the agency is willing to offer some concessions.
If things work out well you can rest assured that the financial therapist has really been able to put forth a spending and saving plan that you are comfortable with.
You will still need a bankruptcy lawyer.
What will one of the “chapter 7 lawyers near me” accomplish?
For one, he or she will be able to put into effect an important element called “automatic stay”.
This will immediately control your lenders from collecting what you owe them.
The good news will be, at least temporarily, your creditors will not impair your wages, bank accounts, car, house, or any other property.
Yes, the bankruptcy court will have some control over your financial dealings.
Technically, they will have some jurisdiction over your property.
You cannot dispose of the property or pay off the pre-filing debts without the approval of the court.
Here is a caveat though.
When the bankruptcy process is finally through, all of your debts are discharged by the court except for the following:
Child support, taxes, and student loans
Some debts the court may decide as non-dis chargeable because the lenders may have successfully objected to them.
Bankruptcy lawyers in Northern Virginia help their clients in many ways.