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Monday February 19th 2018

Seeking Affordable Bankruptcy Attorneys

When filing chapter 7 bankruptcy, usually the debtor has got two options, one is to avail the entire package service of the bankruptcy services company and the opposite is to avail the budgeted limited service package of the bankruptcy services company. The variation between the two is that inside the budgeted package, the services of the bankruptcy services provider are retained just for evaluation, preparation and filing of the bankruptcy petition. Inside the budgeted package the bankruptcy attorney shouldn’t stay beside you at the general 341 meeting. Within the full package service the bankruptcy attorney stays beside the debtor till the overall decision of the bankruptcy court.

There are other kinds of bankruptcy attorneys available in the market, some are with while some are without any experience, some are with while are some are without any reputation. Before availing the services of any attorney one should perform a little market research, compare and depend on the word of mouth recommendation. Quality comes at a worth. It’s obvious that an attorney with a lot of experience and high efficiency is going to charge comparatively higher than anything. There are some attorneys who hardly have any clients and will offer their bankruptcy services at throw away prices. This would not mean that if the price tag is low the service is going to assure approval of bankruptcy petition. Additionally it is possible that the attorney may try and take you for a ride and charge exorbitant. Thus it’s miles better to strike a balance between the quality of the service offered by the attorney and what you are able to afford.

The three steps to assist finding a cheap attorney to file individual bankruptcy are as follows:

1. The 1st step is ready filling the web application form or answering the questionnaire with the relevant information. The complete information and information that you just furnish when filling the form should be genuine and authentic.

2. The second step pertains to the evaluation. The means test should be cleared for meeting the eligibility criteria of chapter 7 bankruptcy. For Chapter 13 bankruptcy one should discuss with the chapter 13 bankruptcy faq. Availing an entire pre-bankruptcy counseling session is mandatory just before applying for bankruptcy approval.

3. The third and the general step is said to attending the 341 meeting of the creditor and justifying your stand of not with the ability to pay the exceptional dues.

Budgeted limited service package includes the first two steps while each of the steps are included within the full service package.

When You Have to File ($2)

This book changed my whole perception about the concept of “Bankruptcy.” Honestly, before I read it I had a very unflattering opinion and negative bias against individuals and organizations that filed for bankruptcies. But after reading this book I realized I was wrong.

The author of When You Have to File for Bankruptcy does a wonderful job of explaining that bankruptcy is not a dirty word, and that the vast majority of the filings are actually precipitated by catastrophic health issues, job loss, divorce and unforeseen events. Generally speaking, it’s not individuals living recklessly beyond their means that account for the majority of filings, it’s actually individuals seeking a second chance on the other side of circumstances beyond their control.

Matt Pelc’s accessibly-written book was not only informative and interesting but it was also extremely current. For instance, he provides a chart regarding annual bankruptcy filings that includes data for 2007, while a completely different chart on unemployment numbers contains statistics from January 2008. Usually writers dig up dusty factoids and dated data to reinforce their points – but not Pelc.

In the book, Pelc does a superb job listing recent changes to federal bankruptcy laws and how those changes have translated into real-world applications since the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. While his discussion about foreclosures and liens reads like today’s newspaper, addressing the current mortgage crisis with stats and facts as recent as March 2008.

Beyond those specifics, Pelc masterfully explains the general types of bankruptcies (e.g. Chapter 7, 13, 11 and 12) as well as defining the critical “means test” that is necessary to determine whether or not you are even eligible to file. I really appreciated his overview of what to look for in an attorney to help you through the process, what questions to ask a lawyer and estimates on how much the entire legal process could cost.

But he doesn’t stop there.

Pelc goes further to even include a section about Debtor’s Anonymous (p. 222) to help individuals who do get a second chance through bankruptcy to take positive steps toward a debt-free future.

If you are even considering the remote possibility of filing for bankruptcy, do not take another step down that path without reading this book first. I believe that it can help any individual avoid potential frustration, pitfalls and problems that are inherent within the bankruptcy process, while making the best of a suboptimal financial situation.

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