When you finally decide that it is time to file for bankruptcy, it can be a bit overwhelming if you are not familiar with the bankruptcy process. There are a lot of steps and information to consider prior to moving forward with filing for bankruptcy.
If you think that bankruptcy is an option for you to help you overcome your debt, you may be wondering what the next steps are. Our Homestead bankruptcy attorneys are here to guide you through the process.
Step 1 – Find an Experienced Bankruptcy Attorney
The first and most important step is to find an experienced bankruptcy attorney that can help guide you through the entire process. You can talk to friends and family to see if anyone has a recommendation. You can search online for law firms that specialize in bankruptcy law and have promising reviews. You can also review how many years of experience the law firm has on their website. At Loan Lawyers, we have over 100 years of combined experience in assisting consumers file for bankruptcy in order to overcome their debt and get a fresh start financially.
Step 2 – Complete a Bankruptcy Counseling Session
As part of the bankruptcy process, you are typically required to take two credit counseling sessions with a counseling agency that has been approved by the U.S. Justice Department.
Step 3 – File for Bankruptcy with the Court
After the two counseling sessions, you will move forward with filing with the court. When you hire the services of the experts at Loan Lawyers, we handle all of the communication and filing processes for you, so you do not have to stress about anything. Once you file, creditors must stop contacting you until there is a final decision in the bankruptcy case.
Step 4 – Liquidation or Repayment
Depending on the chapter of bankruptcy that you file, you will either move forward with liquidating your assets of value in order to pay back your creditors, or you will move forward with repaying a portion of your debt. Loan Lawyers will walk you through all of this, and we will ensure that you receive the best solution possible depending on your specific circumstances.
Step 5 – Participate in a Debtor Education Course
The next step that is required is to take part in a debtor education course. In order for your debt to be completely discharged, this course must be completed.
Rebuilding Your Finances and Credit After Bankruptcy
When you work with Loan Lawyers, we will help you come up with a budget and future financial plan to ensure you never end up in debt again. We know how overwhelming debt can be on an individual, and we want to be there to help you through it.
Contact us today and schedule a consultation with our Homestead bankruptcy lawyers for more information.