Do Not File Until You Have Had A Bankruptcy Evaluation
- Date: 2008-10-29 - Word Count: 659
Share This!
A bankruptcy evaluation can be your salvation when your financial situation hits rock bottom. In recent times, the situation in the national as well as the world market is going from bad to worse. In such times it is not altogether surprising that people are looking at filing for bankruptcy as a way out of mounting financial obligations and the strains that come with it.
However, it is not always the smartest idea, and more so if you dive into it without looking where you're headed. That's where a bankruptcy evaluation can help you. Without advice and help, you could end up in more trouble than you were getting out of, by filing for bankruptcy. Things aren't the same today in the world of corporate or consumer law as they were even a few years ago. Therefore there are some basic things you should know about bankruptcy.
Firstly, bankruptcy can be filed by a number of different methods or chapters. What chapter you file under can determine how your debts will be handled and how your assets will be liquidated to pay them. Filing in the wrong chapter could be a disaster, from the standpoint of both assets and finances.
Secondly, filing for bankruptcy cannot eliminate certain kind of debts. If you have too much of a particular kind of debt in your list of total debts, then filing for bankruptcy could be totally pointless, because it will not get you out of your soup.
Thirdly, there is a Federal Bankruptcy Court, and this body must approve of your filing for bankruptcy. The court considers each case individually because people have different sources of income and different kinds of debt. Unfortunately, there is a possibility that the judge will not agree to your plea, no matter how much you think you're entitled to file for bankruptcy. Also, if you have previously filed for bankruptcy within the last few years, you are likely not going to be approved to file again now.
Fourthly, bankruptcy is not your only option. There are alternatives, which may save your skin, far more effectively than the dead end that is bankruptcy. This does not imply taking on more loans, which just amounts to borrowing from one party and giving it to another whom you owe. To find out more about your other options, it is best to go in for a bankruptcy evaluation by a professional.
What then is a bankruptcy evaluation and how can it help you? It means having your specific financial situation analyzed and examined by qualified bankruptcy lawyers, who will then recommend to you the best course of action. These people understand the very diverse world of bankruptcy, the laws as they apply in your state, and what options you may have based on your unique situation. Why trust your luck and limited expertise, especially in the kind of financial mess you could already be in. Taking shots in the dark could make a bad situation worse. How do you know exactly what situation you are in until an expert examines the matter? For all you know, there may be other ways out. Bankruptcy is a last ditch escape route for the desperate, and a trained and qualified lawyer may even provide you with an alternative. An intelligent, informed opinion from someone who knows the ins and outs of the law could guide you in the right direction.
If you don't believe it, take a look at the statistics. Studies have proven that a great percentage of those who have successfully filed for bankruptcy, have done so under the guidance and expertise of a lawyer. A thorough bankruptcy evaluation by a lawyer who knows both Federal and your state's laws could save you from the nightmare situation you're facing. And if you're worried about the fees you have to pay, don't worry. It is inevitably made up for at the end of the process by what it's saved for you in terms of assets, time and money.
However, it is not always the smartest idea, and more so if you dive into it without looking where you're headed. That's where a bankruptcy evaluation can help you. Without advice and help, you could end up in more trouble than you were getting out of, by filing for bankruptcy. Things aren't the same today in the world of corporate or consumer law as they were even a few years ago. Therefore there are some basic things you should know about bankruptcy.
Firstly, bankruptcy can be filed by a number of different methods or chapters. What chapter you file under can determine how your debts will be handled and how your assets will be liquidated to pay them. Filing in the wrong chapter could be a disaster, from the standpoint of both assets and finances.
Secondly, filing for bankruptcy cannot eliminate certain kind of debts. If you have too much of a particular kind of debt in your list of total debts, then filing for bankruptcy could be totally pointless, because it will not get you out of your soup.
Thirdly, there is a Federal Bankruptcy Court, and this body must approve of your filing for bankruptcy. The court considers each case individually because people have different sources of income and different kinds of debt. Unfortunately, there is a possibility that the judge will not agree to your plea, no matter how much you think you're entitled to file for bankruptcy. Also, if you have previously filed for bankruptcy within the last few years, you are likely not going to be approved to file again now.
Fourthly, bankruptcy is not your only option. There are alternatives, which may save your skin, far more effectively than the dead end that is bankruptcy. This does not imply taking on more loans, which just amounts to borrowing from one party and giving it to another whom you owe. To find out more about your other options, it is best to go in for a bankruptcy evaluation by a professional.
What then is a bankruptcy evaluation and how can it help you? It means having your specific financial situation analyzed and examined by qualified bankruptcy lawyers, who will then recommend to you the best course of action. These people understand the very diverse world of bankruptcy, the laws as they apply in your state, and what options you may have based on your unique situation. Why trust your luck and limited expertise, especially in the kind of financial mess you could already be in. Taking shots in the dark could make a bad situation worse. How do you know exactly what situation you are in until an expert examines the matter? For all you know, there may be other ways out. Bankruptcy is a last ditch escape route for the desperate, and a trained and qualified lawyer may even provide you with an alternative. An intelligent, informed opinion from someone who knows the ins and outs of the law could guide you in the right direction.
If you don't believe it, take a look at the statistics. Studies have proven that a great percentage of those who have successfully filed for bankruptcy, have done so under the guidance and expertise of a lawyer. A thorough bankruptcy evaluation by a lawyer who knows both Federal and your state's laws could save you from the nightmare situation you're facing. And if you're worried about the fees you have to pay, don't worry. It is inevitably made up for at the end of the process by what it's saved for you in terms of assets, time and money.
Related Tags: bankruptcy lawyer, bankruptcy evaluation, declare bankruptcy, file for bankruptcy
For more insights and additional information about how a Bankruptcy Evaluation works, as well as getting a free bankruptcy evaluation from a qualified and expert bankruptcy lawyer in your area, please visit our web site at www.bankruptcy-data.com Your Article Search Directory : Find in Articles
Recent articles in this category:
- The Secrets to Getting Low Down Payment Car Insurance
Upon purchase of a new car, there is almost always a requirement to buy an auto insurance policy as - The Wisdom Behind Auto Insurance Comparison Quotes
No one in his right mind would not go for a good deal. In fact, everyone is out on their feet and ru - The Benefits of Auto Insurance Comparisons Florida
Insurance can be expensive. This is something everyone knows about especially in the sunny state of - Auto Insurance Florida: The No-Fault Policy
There are different kinds of car insurance offered by a wide range of providers today. Different sta - Finding the Cheapest Auto Insurance Companies
Everyone is asking and searching for the cheapest auto insurance companies available today. Consider - How do You Compare Private Health Insurance Cover in Australia?
Deciding what is the best and most affordable private health insurance cover can be easy if you take - How Payment Protection Insurance Was Mis-Sold
For over six years the issue of Payment Protection Insurance (PPI) and how it was mis-sold to custom - Finding Quotes For Auto Insurance Online
One of the many concerns when you are shopping for auto insurance is being able to get access to quo - How You Can Find the Best Auto Insurance Online
When it comes to renewing your car insurance you are going to quickly discover that there are a numb - Guidelines For Searching For Auto Insurance Online
The internet can be a great source of discounts and values related to auto insurance. However, many
Most viewed articles in this category:
- Trading Forex With Pivot Points
Forex Pivot Point Trading are used today by Forex Traders and are calculated on the previous days mo - Where To Search For Free Grants
Where do you look for free grants? The search must be thorough or it could be an exercise in futilit - The Connection Between High Blood Pressure and Salt
We are a society of Salt Addicts. It cannot be denied. When you look at the things we do and the pla - Tips For Avoiding HYIP Scams
Before knowing about HYIP Scams, refer to the functioning of HYIP or "High Yield Investment Programs - Getting Credit After Bankruptcy
Consumers do not have to live sans credit following a bankruptcy. By following certain steps consume - Tips For Choosing A Credit Card
Are you looking for that perfect credit card? If so, you may be confused about what exactly to look - Cheap Car Insurance For Teens Online
Many elements determine a car insurance policy. Car insurance companies look at the person's age, hi - What Exactly Is Free Grant Money?
You can apply for free grant money from various government agencies. But where exactly does this mon - Small Business Owners Marketing and Customer Service
Marketing can be time-consuming, but it doesn't have to be hugely expensive now, thanks to the Inter - Apply Online For A Credit Card - How To Choose A Card?
The best type of credit card for you will be dependant on how you intend to use the credit card. Are