Advanced Law Research Analysis # 2

Everyone struggles financially at one time or another. Sometimes it’s very simple to get back on your feet and other times you might need to turn to a legal professional to help you figure out a solution. If you are in a difficult financial situation and need to declare bankruptcy, William J Sedor, Esq. of Rochester is ready to help. This personal bankruptcy attorney is no stranger to bankruptcy cases and can provide you with all the information you need to fully understand how declaring Chapter 7 bankruptcy works.

A person will have to also undertake credit counseling using a particular organization approved from the United States Trustee.

Consulting with a seasoned bankruptcy lawyer can help you obtain a better understanding of your options. Depending on your unique situation, you may benefit from negotiating a debt reduction or payment plan as opposed to filing for bankruptcy. Should you and your attorney determine that filing is the best available option, he or she will be able to explain the benefits and differences between the various bankruptcy options.

We can help you understand all of your debt relief options and ensure that you are fully prepared for your Chapter 7 or Chapter 13 filing. We will ensure that you include all of your debt, timely file the required financial disclosures, meet the strict deadlines, and obtain your discharge of debt as quickly as possible. When you consider the fact that you may be allowed to eliminate thousands of dollars of debt in your filing, the fee you pay your attorney is a very wise

If the debtor decides that filing a Chapter 7 bankruptcy petition is their best course of action to get a renewed start of finances, the debtor must first consult with an attorney. At the consolation, the attorney will perform the means testing which formulas

There are times in life when our financial burdens become too overwhelming to manage any longer. Sometimes people become weighed down by financial pressures and need debt relief. That’s usually when they elect to file for bankruptcy. Bankruptcy is a big step and you need to know how to do it correctly. Crandall Law Offices in New Richmond, WI has some suggestions for how to file bankruptcy.

There is a common misconception that filing for bankruptcy spells doom for one's financial future. In reality, bankruptcy offers a fresh start that enables you to rebuild your financial life anew. The bankruptcy attorneys of Greene Law, PC--serving clients throughout the state of Connecticut--understand the things you can do to start rebuilding your finances, no matter what type of bankruptcy you’ve filed.

Bankruptcy is a process that allows consumers and businesses to eliminate or repay debts under the protection of the federal bankruptcy court. An individual might file for bankruptcy because he/she has lost his/her job and can no longer pay his/her financial obligations. A business may file for bankruptcy because it has borrowed money that cannot be repaid due to the business failure.

The bankruptcy will be noted on your credit report, and it will be difficult to borrow any money, and when you do, the interest rates will be high. This situation will last until the bankruptcy is dropped from

Certain individuals may not qualify for Chapter 7 as the court implements a sophisticated test to determine an individual’s ability to wipe out their debts entirely.  Chapter 13 filings are more complicated than Chapter 7 bankruptcy and requires the experience of an attorney who knows the Federal Courts, the judges, and the trustees who will be approving your repayment plan. Contact Bartolone & Batista today for a free consulation at 1-800-974-5272More Chapter 13 Bankruptcy InformationChapter 11

Chapter 11 bankruptcy gives the debtor a chance to reorganize debts. After filing a Chapter 11, the bankruptcy court issues an automatic stay that keeps creditors from attempting to collect repayment from the business. While the automatic stay is in place, the debtor works on a repayment plan. As with Chapter 13, the plan typically includes reduced amounts owed or reduced interest rates. The repayment plan under Chapter 11 is called a reorganization plan. The business’s goal is to stay profitable while paying back debts, so they try to renegotiate contracts, leases, or other debts to get amounts reduced or discharged.

Many people who are planning to file for bankruptcy protection are concerned with how it will impact their job. Can you be fired for filing a Chapter 7 or Chapter 13? Fortunately, the answer is “no.” The Bankruptcy Code prohibits your employer from firing you solely because you filed a bankruptcy case.

There are many factors that lead you into handling the process of filing for bankruptcy without a lawyer. The most common among them is the lack of resources to cater for the fees that are charged by the lawyer. This is made worse by the fact that some practicing lawyers are out to take advantage of your situation and rip you off your little and almost non-existent finances.

Filing for bankruptcy is a very useful way to gain protection from creditors and obtain a discharge of debt. But is it the best idea for everyone? Absolutely not; there are some who would be better off seeking out other options and bankruptcy alternatives.

Finally, a telephone call from a bankruptcy attorney to negotiate on your behalf can help you regain some of your leverage. As soon as a judgment-creditor understands that you filing a Chapter 7 or Chapter 13 case is a real possibility, they are motivated to settle your debt. The idea of recovering a portion of the debt owed is much more appealing than having the debt discharged or eliminated in a bankruptcy filing and receiving nothing. In fact, if the creditor believes that you are likely to file for bankruptcy if a settlement is not reached, it may be possible to settle for a small fraction of what you owe.