The bankruptcy process, the forms and regulation involved are not as simple as many people assume.
Hiring a local bankruptcy attorney in some cases may actually save you and your family from a lot of mental stress. Also worth noting, a professional attorney is best suited for cases that involve Chapter 7 and Chapter 13 bankruptcy – It makes sense to use an attorney or lawyer that will be handling your bankruptcy case at the downtown West Palm Beach courthouse because an attorney from Walker Law Firm, P.A. will help you win and help save additional costs, especially when it comes to resolving your bankruptcy issues.
Depending on the specifications of the bankruptcy scenario, there are two types of bankruptcy declarations; Chapter 7 and Chapter 13. Whether you are filing a Chapter 13 or a Chapter 7, a consumer should have a clear understanding of the implications that come with filing this type of suit, which is why, having a qualified and experienced bankruptcy attorney from Walker Law Firm is the ideal way to go about it.
Chapter 13
The Chapter 13 bankruptcy is also known as the reorganization bankruptcy, because it deals with the repayment of the debts involved without having to give up one’s property. Your Walker Law Chapter 13 attorney will help you come up with a feasible repayment plan that is set according to the calculated amount of disposable income.
Also termed as wage earners plan, this allows debtors to make up for payments in a three to five year long period. The paying off the debt is categorized amongst three parts; priority debts like child support and alimony, secured debts like mortgage, and unsecured debts like credit card payments and medical bills. Since the entire repayment process is complex, having one of Walker Law’s bankruptcy attorneys are knowledgeable and experienced with local laws and regulations and will help area residents walk through the bankruptcy process.
Chapter 7
When it comes to Chapter 7 bankruptcy, it is essential to have a local bankruptcy attorney by your side to help you stay in accordance with all the laws, rules and regulations involved. This type of bankruptcy is a liquidation procedure as all the non exempt assets, including the property of an individual are transferred to a bankruptcy trustee appointed by the Court. It is best to hire your local Chapter 7 Attorney be this trustee as they can control the assets, the sale and distribution, to the best of your interest.
However, they will be charged for it as well.
Bankruptcy is a highly stressful situation, especially if you are “new” to bankruptcy. In order to swim out of it in an effective manner, it is highly advisable to consider the help of your West Palm Beach bankruptcy attorney – Walker Law Firm, P.A.
