Bankruptcy Lawyers & Lawsuits

Bankruptcy Lawyers & Lawsuits

Bankruptcy is the process undergone when a business or individual seeks relief from their debts. Bankruptcy lawyers specialize either as debtor's or creditor's counsel. You should look to see if a bankruptcy lawyer is connected with associations that cater to your legal issues. Each year more than 1,200,000 Americans file for protection under the federal bankruptcy laws, according to the American Bankruptcy Institute. The sudden loss of a job, divorce, medical bills, or even a natural disaster can quickly wipe out a life's savings. For many, bankruptcy provides a second financial chance and a good bankruptcy lawyer can help guide you through the process.

There are two bankruptcy types available. Chapter 13 bankruptcy or "reorganization" allows debtors to keep property which they might otherwise lose. Chapter 13 bankruptcy may allow debtors to pay off a default over a period of three to five years, rather than surrender their property.

Chapter 7 bankruptcy or "straight bankruptcy" involves the liquidation of all one's assets that are not exempt in a specific state. In Chapter 7 bankruptcy the exempt property may include property like work-related tools and basic furniture. Some property may be sold by a court-appointed official or may be released to creditors. For more details you should speak with a Chapter 7 bankruptcy lawyer.

These cases must be filed in federal court by a bankruptcy lawyer. The filing fee is $160, which sometimes may be paid in installments. This fee does not include the fees of your bankruptcy lawyer.

While it is possible to file a bankruptcy case without the assistance of a bankruptcy lawyer, it may be difficult to do so successfully. It is highly recommended that someone considering bankruptcy consult with a lawyer prior to filing a case. Choosing a bankruptcy lawyer may be difficult. Some of the least reputable lawyers make easy money by handling hundreds of bankruptcy cases without adequately considering individual needs. Some publicly funded legal services programs handle bankruptcy cases without charging lawyer fees. These programs may also provide referrals to local bankruptcy lawyers.

While the information presented on this website is accurate on the date of publication, it should not be cited or relied upon as legal authority. It is highly recommended that legal advice be obtained from a local bankruptcy lawyer . For filing requirements, please refer to the United States Bankruptcy Code (title 11, United States Code), the Federal Rules of Bankruptcy Procedure and the Local Rules for the United States Bankruptcy Court for the Western District of Pennsylvania.

Business Bankruptcy Lawyers
Consumer Bankruptcy Lawyers
Chapter 7 Lawyers
Chapter 11 Lawyers
Chapter 13 Lawyers
Debt Lawyers

If you or a loved one feel you have a bankruptcy case, you need to speak with an experienced bankruptcy lawyer as soon as posisble. You probably have alot of questions, and chances are you may be afraid of what may happen during your case. Good bankruptcy lawyers in your area can help relieve this anxiety and stress. An experienced and winning bankruptcy lawyer can evaluate your case and determine the chances your case has at succeeding. The fact is, you won't know until you speak with a bankruptcy lawyer.