Bankruptcy Attorney Services
An attorney assists individuals or businesses in navigating the bankruptcy process, which serves as a legal means to achieve debt relief from overwhelming financial obligations.
1. Assess your financial situation – The attorney reviews your debts, assets, income, and expenses to determine if filing for bankruptcy is the right option or if there are better alternatives for your financial recovery.
2. Recommend the right type of bankruptcy – For individuals, this typically involves Chapter 7 (liquidation) or Chapter 13 (reorganization). They will explain the advantages and disadvantages of each type based on your unique circumstances.
3. Prepare and file paperwork – The bankruptcy process requires extensive legal paperwork. The attorney ensures that all forms are completed accurately and submitted to the court within the required deadlines.
4. Represent you in court – They will attend necessary hearings, such as the meeting of creditors (often referred to as a 341 meeting), and provide legal representation to advocate for your interests if any issues arise.
5. Protect your rights – The attorney helps to put a stop to creditor harassment, wage garnishment, or foreclosure through the “automatic stay” that takes effect once you file for bankruptcy.