The undesirable pressures of financial hardship is what may lead to the need of declaring bankruptcy. The bankruptcy process is quite complicated, especially for those who are filing bankruptcy for the first time. If you are among them, it is highly suggested to hire a bankruptcy lawyer who has been handling similar legal matters for many years. As you don't possess in-depth knowledge about the law, there is a high chance of mistakes while accomplishing the paperwork or representing yourself in the court. In fact, handling your bankruptcy case yourself can leave you with an unfavorable outcome.
You can find numerous law firms well-recognized for offering excellent legal services of their bankruptcy lawyer in New Bedford or places nearby. But, before choosing one, make sure that they are trustworthy. To do so, carry out detailed research and reading of testimonials of all their former clients. Also, you can also ask for personal recommendations from your close friends. This way, you can surely filter out the right firm that you can choose and end up working with a reliable attorney. With extensive experience and significant expertise in the field, they can help you decide on which type of bankruptcy to file. And, thus, assist you to achieve the most desirable results.
Two major types of bankruptcy where a lawyer can assist you:
- Chapter 7 bankruptcy: Also known as Liquidation Bankruptcy is the situation where a debtor files for a bankruptcy petition with the court. In this procedure, a trustee may sell some of your property in order to repay your debt to the creditors. Dealing with such case on your own cannot only increase the stress level but also cost you dearly. Therefore, in order to attain the best results possible, hiring an experienced and skilled attorney can be great.
- Chapter 13 bankruptcy: In this type of bankruptcy, you need not deal with the liquidation of the property for paying back debts to creditors. It allows you to retain your home and car, which may about to be foreclosed and repossessed. Unlike the bankruptcy of Chapter 7 where most debts are canceled, the debtor has 3 to 5 years in which they must repay all of their debts or a portion of it. To gain an in-depth understanding of the types of bankruptcies, hire a trusted lawyer.
If you are looking forward to hiring the exceptional legal services of a Bankruptcy Lawyer in New Bedford, choosing a reliable law firm would be wise. For sure, you will find out the right legal expert who can not only assist you when filing for bankruptcy but also provide you with the most desirable results!
