If you are thinking about filing for bankruptcy, and in today’s current economy many people are forced to come to the conclusion that is the step they need to take, you should hire a qualified legal expert for assistance in filing. If you are in this situation, you should contact a bankruptcy lawyer. Each State has different rules and regulations for filing bankruptcy, so you should hire a legal professional in your state. There are many bankruptcy attorneys and it is a good idea to get recommendations from friends or family members. You can do a search on the internet to find law practices in your area that specializes in bankruptcy law. It is a good idea to read the reviews and testimonials online. You can also contact the State Bar Association for recommendations.

You may be thinking that you already owe so many creditors why should you take the money and pay a bankruptcy lawyer. A good bankruptcy lawyer is really a good investment for your financial future. The bankruptcy process is a complicated one and any mistakes that are made during the process may result in future consequences. When you file bankruptcy there are numerous extensive and difficult to understand forms, a bankruptcy lawyer can assist and advise you doing this process. A bankruptcy lawyer will also protect your interest and legal rights if you are challenged by creditors or lenders. As mentioned above different States have different bankruptcy laws and they change quite frequently. For example, in the State of Florida, an individual can file for Chapter 7 and Chapter 13 bankruptcy. A law practice in Florida can assist you with filing bankruptcy. This law firm can also assist and advise you setting up and negotiating settlement agreement with your creditors and avoiding bankruptcy.

Chapter 7 bankruptcy is a straight liquidation proceeding for an individual. This debtor receives a discharge for all dischargeable debts and must turnover all nonexempt property to a bankruptcy trustee. In order to qualify for Chapter 7 a debtor must have lived in the State of Florida for 730 days (a period of two years).

Chapter 13 bankruptcies allows for an individual debtor who has a regular income to repay all of part of their debt by arranging a payment plan consisting of monthly payments for a period of three to five years. In order to qualify for Chapter 13, your unsecured debts need to be less than $336,900 and secured debts should be less than $1,010,650. Chapter 13 is best for individuals with a regular income who do not qualify for Chapter 7, own assets that are not exempt, or want to keep their homes.

Bankruptcy law firms represent debtors, creditors, and trustees in bankruptcy matters. These legal professionals understand that filing for bankruptcy is stressful and you will find that many offices have hours that accommodate your schedule including evening and weekend hours. Many law firms do not charge for an initial consultation so you have nothing to lose and everything to gain by scheduling an appointment today.

Author Bio: Ellie Lewis recently spent time researching bankruptcy with the help of a Miami bankruptcy attorney. She hired a Miami bankruptcy lawyer to represent her son.

Category: Legal
Keywords: Miami bankruptcy,Miami bankruptcy lawyer