In Palm Beach County, an attorney in bankruptcy cases is not a requirement; however, it saves you the client from lots of confusing paperwork and pressure. Dealing with debt is not simple, and that too while considering complex forms, deadlines, and minor details. To save you the trouble, most wise individuals dealing with bankruptcy will hire an attorney instead. The decision to employ an attorney also depends on how bad the debt situation you are in, the affordability of the lawyer, and your time management and self-working skills.

A bankruptcy attorney not just helps you with the paperwork but they facilitate you to decide on what type of bankruptcy you should file that would be good for you in the long run. It depends on your retirement savings, assets, and properties. If you own your home and have important assets, the lawyer will advise you to choose the kind of bankruptcy which will not risk them. Our lawyers are well versed with experience in Chapter 7 / Chapter 12 bankruptcy.

It is not easy for someone who is not well educated in bankruptcy to understand whether Chapter 7 will be applicable or Chapter 12. Your bankruptcy attorney at Walker Law will help you make the right decision. They will decide whether it will be easier to repay the debt early or later and which property you should keep or give up. If you are an annual wage earner with low income, which includes farmer or ranchers, then Chapter 7 and 12 is for you. To give you an idea about it, here are the main points:

Chapter 7/Liquidation

When filing for Chapter 7 (liquidation) bankruptcy, you need to know that only your nonexempt property will be sold to repay the debt not later than 3 – 4 months. If the debt still remains after the liquidation of non exempted properties, you will most likely get debt relief. Collectors will get off your back after filing the bankruptcy. Having an attorney would make the bankruptcy dealing easier and will give you the professional help.

Chapter 12

This is the new addition for bankruptcy law, and apparently a cheaper one, which is specifically made for family farmers or family fishermen with an annual wage. A regular annual wage is important so that the creditor knows that the person will be able to pay installments accordingly. The term for repayment is usually 3 – 5 years, which is done in installments. It helps them to restructure their debt.

Before you hire someone, make sure it’s the right person who will get the job done. If you need a bankruptcy attorney for legal consultation or representation in Palm Beach Country, The Walker Law Firm can help you rebuild your credit. Call us today at 561.689.1512 for a free initial consultation.

Bankruptcy Attorney in Palm Beach Countty