Types Of Debt A Bankruptcy Attorney May Handle

Filing for bankruptcy is not the most pleasant experience, and that’s why it’s important to find a bankruptcy attorney who will handle your case properly. Not every lawyer is capable of handling this task, so it is crucial that you do a thorough investigation before hiring any attorney for your situation. The fact is that filing for bankruptcy is not like paying your credit card bills or repaying your student loans, it is more complicated than that, and requires a lot more care from you. In order to make sure that you get the best service possible, it is highly recommended that you perform a thorough search for a reputable bankruptcy attorney in your area.Do you want to learn more? Visit bankruptcy attorney near me .

There are two common types of bankruptcy cases, and those are known as chapters seven and chapter thirteen. Chapter seven involves liquidating your assets and paying off some of your debts, while chapter thirteen involves repayment plans with lenders and keeping some assets to avoid bankruptcy. While both are perfectly legitimate options, your bankruptcy attorney will have a lot more experience with those than you will. Therefore, it is highly recommended that you find an attorney who is experienced in dealing with those situations, especially because the consequences can be much greater if you file the wrong way. These common types of filings are discussed below.

For example, there is debt management, which is a way for you to repay your debts after you file for bankruptcy, in which case your bankruptcy attorney will negotiate with your creditors on your behalf in order to reduce the amount of money that you have to pay back. This type of plan is usually used when a person has many debts that they need to be able to pay back and isn’t eligible for any of the other options because of their financial status. Another type of debt management that a bankruptcy attorney may work with is a payment plan where the person still makes some payments to their creditors, but they pay them at a much lower interest rate, since they are getting a better deal overall. A third common type of debt management is a program that allows people to take an honest inventory of their financial situation and pay their bills off one by one as they go. This is another option that a bankruptcy attorney may work with, particularly if you have a large number of debts that you need to be able to pay back.


Attorney Harry C Kaufman
445 Hamilton Ave, Suite 1102, White Plains, NY 10601
Phone No. : 917-985-6294