No one enjoys the feeling of having their debt go out of control. It happens to good and responsible people every day, though. Sometimes it’s a matter of being hit by huge medical bills, or the loss of a job, or the collapse of a family business. Whatever has happened in your life, though, you have a right to take what steps are necessary to get your financial life under control so that you can build a future for yourself and your family. A Chapter 7 Bankruptcy Lawyer can help you to do that.
Chapter 7 bankruptcy is the process that was once known as straight bankruptcy. It’s intended for households and businesses whose financial situation has become bad to the point of there being no realistic hope of recovery without help. Through this process, people can keep a certain portion of their assets, but everything else is taken and sold to be used to satisfy whatever debts exist. Any debt that remains beyond that is set aside. This gives those who are in extremely difficult financial circumstances a chance at a fresh start.
This process is much more complicated than it once was. Due to fears that people might abuse the system, additional rules and regulations were added. It’s now more important than ever to get in touch with a Chapter 7 Bankruptcy Lawyer who can talk you through the process and help you to understand how choosing this route would affect you both now and in the future. For most people who are able to go through this procedure, it ends up being an extremely positive experience. While dealing with the courts and paperwork may not be fun, having a chance to start over knowing that you’re building a future and not just trying to climb out of a hopeless financial pit makes a world of difference in their outlook on life.
If you need to consult with a Chapter 7 Bankruptcy Lawyer, you can contact Laura Margulies & Associates LLC. You can get a consultation, even if you’re uncertain whether you would qualify for bankruptcy or even if it’s something that you would want to do. Going in for a meeting doesn’t mean that you have to commit to anything. It’s just a chance to gain more information.
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