Dealing with overwhelming debt is not an easy feat. It can quickly take over your life and leave you with little options. This is why the bankruptcy courts are in place in order to provide relief from insurmountable debt.
A Birmingham bankruptcy lawyer can answer any questions you may have about filing for bankruptcy relief. They will walk you through the entire bankruptcy process to help you make an informed decision regarding your financial situation. Should bankruptcy be the best choice for your circumstances, then a bankruptcy lawyer will work to make the process as straightforward as possible, explaining everything as we pursue the discharge together.
If you are filing a Chapter 7 bankruptcy, you will need to provide the court with certain documents and will need to sign some paperwork prior to filing. Examples of these documents include your last six months of pay stubs, last two years tax returns, you will need to fill out a bankruptcy questionnaire, and will eventually need a copy of your driver’s license. Some of the common forms you will need to sign are the contract to retain services, legal disclosures, and a few standard forms that get filed with the Bankruptcy Court.
Even in what would seem like a simple Chapter 7 bankruptcy, there may be potential issues that could arise once your case is filed. This is why it is important to obtain a local bankruptcy attorney to file your case, since they will be familiar with the process and know all of the local rules of the particular bankruptcy court you are filing in.
If you are filing a Chapter 7 Bankruptcy, you will need to attend a Meeting of Creditors. Creditors do not normally show up for this meeting. There will be a trustee in your case who will ask you some questions about your financial situation. If there are no complications or objections then you should receive a discharge and never have to go before a Judge in most Chapter 7 bankruptcy cases. There is only the one hearing in front of the Trustee, which is done via phone currently in Alabama.
Chapter 7 is a quick and fast bankruptcy. If you qualify based on your income and have a no asset case (there are no non exempt assets) then you can file Chapter 7 bankruptcy and get a discharge fairly quickly and easily. A Chapter 13 bankruptcy lasts five years and you pay back all or most of your debts during that time. Call and speak to a local bankruptcy attorney where you live to get a consultation on which type of bankruptcy is right for you.