Monthly Archives: November 2012

WHAT ARE THE ADVANTAGES OF FILING FOR BANKRUPTCY?

WHAT ARE THE ADVANTAGES OF FILING FOR BANKRUPTCY? There are several advantages to filing for bankruptcy. By far, the most important advantage is that you can obtain a financial “fresh start.” Consumers who file for Chapter 7 bankruptcy will be discharged from (forgiven from paying) most unsecured debts while keeping most (if not all) of their assets.  Another advantage is that collection efforts must legally cease once your case is filed. If a creditor does not cease its efforts, that creditor may...
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DO I NEED A LAWYER TO FILE FOR BANKRUPTCY?

Individuals may file a bankruptcy case without representation; however, it is incredibly difficult to do it successfully.  The procedures and strategies involved with filing for bankruptcy are complex.  A mistake in estimating your equity/assets, or applying incorrect exemptions could cost you your home and other property.  In addition, if you fail to meet certain legal requirements, your case may be dismissed and you may lose the right to file another case. Bankruptcy has long-lasting legal and financial consequences.  Hiring an attorney...
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