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Will Creditors stop calling me?

By law, all actions against a debtor must cease once the bankruptcy documents are filed. Creditors cannot initiate or continue any lawsuits, wage garnishees, or even telephone calls demanding payments. Secured creditors such as banks holding, for example, a lien on a car, will get the stay lifted if you cannot make payments.

What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy, sometimes call a straight bankruptcy is a liquidation proceeding. The debtor turns over all non-exempt property to the bankruptcy trustee who then converts it to cash for distribution to the creditors. The debtor receives a discharge of all dischargeable debts usually within four months. In the vast majority of cases the debtor has no assets that he would lose so Chapter 7 will give that person a relatively quick \\\\\\\"fresh start\\\\\\\". One of the main purposes of Bankruptcy Law is to give a person, who is hopelessly burdened with debt, a fresh start by wiping out his or her debts.

What does filing bankruptcy cost?

It costs about $300 to file a Chapter 7 bankruptcy. A bankruptcy lawyer\\\\\\\'s fees vary but should be in the range of $1,000 to $2,000. Many bankruptcy lawyers will give you a free initial consultation. You can keep the fees down by being well organized and well prepared. You may also be able to keep the fees down by not requiring the lawyer to attend the meeting of creditors with you. Check this with your lawyer. In some states such as Massachusetts, attorneys must attend the Section 341 meeting with the debtors otherwise attorneys are deemed to have NOT represented the debtors. (The 341 Meeting).

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Learn More about how to choose a Bankruptcy Lawyer

Read This To Find Out How To Find A Great Bankruptcy Lawyer Engaging the services of a bankruptcy lawyer is a costly proposition. Many legal consultants will offer affordable rates to assist individuals who may otherwise not be able to afford legal counsel. Follow our suggestions if you want to create a list of lawyer\\\'s who won\\\'t break the bank. If you\\\'re struggling to pay for legal representation, consider attorneys and NGOs offering legal services free of charge. If you can prove your financial need, you may very well be eligible to receive free legal consultation. Many attorneys enjoy helping people who are having financial difficulties by giving free legal consultation. In some cases a legal representative will provide their assistance for free if the client allows them to use their case in advertising. If you\\\'ll be surfing the web for an attorney, it\\\'s crucial to know what to look for prior to you begin. There\\\'s so much information on legal representatives available on the web that it\\\'s easy to feel overwhelmed; and it doesn\\\'t help that some of this material is inaccurate or misleading. Look at every aspect of an attorney\\\'s history prior to you sign an agreement. You need to be reassured that the attorney you choose has the essential skills to bring a winning decision to your court case, so investing some time and effort into your search is a priority. No matter how good they are, bankruptcy lawyers aren\\\'t infallible. Many attorneys will honestly make slip-ups but they could learn from them. A honest legal attorney realizes that nobody in this world is without sin. A respectable legal consultant will reliably do their best to apologize in the event that they do commit an error. A face-to-face encounter with a legal representative you\\\'re thinking of working with is essential before you sign a legal contract. During the in-person appointment, ensure the legal representative maintains eye contact. This may let you know that they\\\'re committed to helping you and focused on your legal case. You need to work with a legal representative who may have focus and wants to assist you. When you are looking for the perfect attorney, make a list of the qualities you\\\'d like him or her to have before you begin your search. Your family, friends and co-workers can be a great source of info when you need to find a talented attorney. You could learn lots of things about a good legal representative if you just look carefully. You could always look online to see what particular bankruptcy lawyers are interesting to hire. Insist on a specific time frame whenever your attorney\\\'s office says he\\\'ll get back to you. Your status with your bankruptcy lawyer is often questionable when the two of you don\\\'t communicate regularly. Making unnecessary calls that would draw the attention of your lawyer from concentrating on your legal case should be avoided. Sometimes being an efficient communicator is a big factor in winning your legal case.