There are thousands of people looking to file bankruptcy. Many times they do not realize where to even begin so it is a good idea to hire a Bankruptcy Attorney Southfield. There are different types of bankruptcy that an individual can file. You want to make sure you are filing the one that works best for you. The most common types of bankruptcy that are filed is either are chapter 7 and chapter 13.
Chapter 7 bankruptcy is the bankruptcy that will clear all your debt that you are filing. You can file several different items. Most people will file for bankruptcy on their credit cards, vehicles and sometimes homes. It really just depends on the individual’s situation. Chapter 7 bankruptcy doesn’t take very long at all to process; it usually takes around 6 months and is pretty cheap. It will cost around 300 in fees, and you should only need to go to court just one time.
Chapter 13 bankruptcy is a little bit different than chapter 7. You will be able to keep your property, credit cards and vehicles that you may be filing bankruptcy on. The thing with Chapter 13 is that they will require you to pay a certain amount of your debt. Before you go to court for filing Chapter 13 you will need to write a plan on how much debt you owe, how many items are you filing and to who. They will also want to know how much you plan to pay back. The creditors will not be able to harass you once you have filed for bankruptcy. They will leave you alone, and you are required to keep up with your payments. You will not be allowed to miss any payments so it is very important when writing your plan that you make sure you will be able to keep the payments.
When you are looking for a Bankruptcy Attorney Southfield you will notice there are several different ones in the area. There are ways to weed through the attorneys to make sure you are hiring the one that is going to help you the most. Call around to the different attorneys to see how much experience they have with filing bankruptcy. It is always good to go with a lawyer that has several years behind their belt.
