Many people have heard of declaring bankruptcy, but not everyone understands the laws behind this process. Bankruptcy law is in place to help individuals resolve serious financial debt. Working with an attorney who specializes in bankruptcy law can help you get a fresh start financially, without the added stress of trying to understand bankruptcy law on your own.
Bankruptcy law includes deciding which type of bankruptcy to file for. Generally, people file for either Chapter 7 bankruptcy or Chapter 13 bankruptcy, and each applies to different situations. Chapter 7 bankruptcy, or individual bankruptcy, requires the settlement of debts through liquidation of assets. Chapter 13 bankruptcy allows an individual to request additional time to pay off personal debts. If you decide it is time to file for bankruptcy and require help navigating bankruptcy law, you will likely need to hire an attorney.
Because there are many important details to consider with bankruptcy law, it is important to work with someone who understands the process and can help you understand bankruptcy process as well. With the help of a professional attorney, you will likely experience more long-term benefits than when attempting the process alone.
If you are looking for more information on bankruptcy law or need an attorney you can trust to handle your bankruptcy proceedings, make Groff Law Firm, PLLC your first call. We are dedicated to helping you get a fresh start financially and ensuring you benefit as much as possible from a difficult situation. Contact us today to learn more!