It is frustrating when either an individual or a business is so much in debt that they cannot be able to stay solvent. If debts have weighed you down and you do not see the way out, it is about time that you hire a bankruptcy attorney in Salinas, CA. However, you should note that the procedure of being declared insolvent is not simple as most people might think. Here are some strategies that you can use when hiring an attorney, who will make the process easier for you.
The first step is deciding what type of bankruptcy to file for. The options that are available include chapter 7, 11 and 13. These depend on whether you have personal issues, or it is a business related problem. When you have personal debts like delinquent mortgages and credit card debts, chapter 7 is the most appropriate product for you.
If a business is not making profits and has given rise to debts, then the best option to use is the chapter 13. In most cases Chapter 11 tends to be used but organizations of the government where they can be able to get in debts that they cannot resolve. With an experienced lawyer by your side, you will be guided through the file that suits your situation.
Another thing to think about when contacting an attorney is what you intend to achieve from the filing process. People that file for bankruptcy need protection from the people they owe. When the proceedings are done right, most get stay orders that make it impossible for the people they owe to sue them or collect from them.
Once you file for bankruptcy, there are some benefits that you get out of it. For instance, you will have to enroll in a class where you are taught on the mistakes that you did in your personal or business finance and how to better manage your money.
The other thing you might lead you to file for bankruptcy is a version of imminent foreclosure and lien stripping. If you are buying a house using mortgage and you are not able to pay the house for a certain number of months, then you might end up having a dreaded NOD. If this is the case, then chapter 13 is the file you should use.
So as to get these services, it is paramount that you find a lawyer that is competent. The attorney will assess the situation of your finance and will assist you on how to get your finances in order. The services of the lawyer should not end after successful filling; you can retain the lawyer so that they assist you to get financial freedom in the shortest time possible.
To achieve your goal, you need someone who is competent by your side. Take time to choose someone with both the qualification and experience. This will ensure that the process takes the shortest time possible. Make sure that the lawyer you hire is licensed and is a member of a reputable lawyers' association.
The first step is deciding what type of bankruptcy to file for. The options that are available include chapter 7, 11 and 13. These depend on whether you have personal issues, or it is a business related problem. When you have personal debts like delinquent mortgages and credit card debts, chapter 7 is the most appropriate product for you.
If a business is not making profits and has given rise to debts, then the best option to use is the chapter 13. In most cases Chapter 11 tends to be used but organizations of the government where they can be able to get in debts that they cannot resolve. With an experienced lawyer by your side, you will be guided through the file that suits your situation.
Another thing to think about when contacting an attorney is what you intend to achieve from the filing process. People that file for bankruptcy need protection from the people they owe. When the proceedings are done right, most get stay orders that make it impossible for the people they owe to sue them or collect from them.
Once you file for bankruptcy, there are some benefits that you get out of it. For instance, you will have to enroll in a class where you are taught on the mistakes that you did in your personal or business finance and how to better manage your money.
The other thing you might lead you to file for bankruptcy is a version of imminent foreclosure and lien stripping. If you are buying a house using mortgage and you are not able to pay the house for a certain number of months, then you might end up having a dreaded NOD. If this is the case, then chapter 13 is the file you should use.
So as to get these services, it is paramount that you find a lawyer that is competent. The attorney will assess the situation of your finance and will assist you on how to get your finances in order. The services of the lawyer should not end after successful filling; you can retain the lawyer so that they assist you to get financial freedom in the shortest time possible.
To achieve your goal, you need someone who is competent by your side. Take time to choose someone with both the qualification and experience. This will ensure that the process takes the shortest time possible. Make sure that the lawyer you hire is licensed and is a member of a reputable lawyers' association.
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