Why Hire a Chapter 7 Bankruptcy Lawyer in Silver Spring, MD?

by | Nov 29, 2016 | Lawyers and Law Firms

Filing for chapter 7 bankruptcy can be a great way for consumers to deal with different kinds of debts and start over again without the constant harassment from creditors. Most people think of chapter 7 bankruptcy when they want to get out of debt, and that’s because it is the most common way to end monetary problems and start over. Most people who file for chapter 7 are left with all their possessions, but that’s because they were advised by an experienced chapter 7 bankruptcy lawyer in Silver Spring, MD. Reputable lawyers will not tell their clients to file for bankruptcy unless it is the right thing to do. There are pros and cons to filing chapter 7, and a lawyer should speak with their client so they can make an informed decision.

Declaring bankruptcy is a partnership between the client and their attorney. By working together, both parties will come to a determination about the person’s income, assets and debts, and how they affect each other. By doing so, a lot of surprises will be eliminated. There are a lot of forms that must be completed for a bankruptcy case to be successful. In fact, an entire file will usually be between 50 and 60 pages of information. Do not worry about sitting at the computer trying to figure things out, hiring a chapter 7 bankruptcy lawyer in Silver Spring, MD is the right move.

Most people must also undergo credit counseling, but not the kind that many think. Before a chapter 7 can be declared, the client must go through a credit counseling certification process offered by a court-approved provider. It takes about 20 minutes to complete and can be done by phone or the internet. This is not the same type of credit counseling people see on TV, though. In fact, it is just a formality. People can thank Congress for wasting 20 minutes of your life.

At the time a chapter 7 bankruptcy is declared, it is assigned a case number. Assuming that there have been no other cases in the last 12 months, an automatic stay goes into effect that stops most credit actions against the person. Keep in mind that there are limits on the automatic stay. For more details, visit website today.

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