Many people end up losing sleep over financial matters, getting involved in endless fights with their spouses due to money problems and simply worrying themselves sick. If you think no end is in sight, you’re wrong. Bankruptcy lawyer Patrick Kavanagh runs the Law Offices of Patrick Kavanagh, P.C. in Bakersfield, California, and talks here about the ins and outs of bankruptcy, and how it could be the right option for you.
Is Bankruptcy Right for Me?
If financial problems are threatening to take over your life and invading every aspect of the way you live, there is a good chance that bankruptcy is right for you. The first step, of course, it to talk to a good bankruptcy lawyer.
How Bankruptcy Can Help You
If you have more debts than any honest person can pay, bankruptcy can help. It can allow you to be free from most debts, and help you get things back on track, the way they were meant to be. And, believe it or not, bankruptcy no longer has the stigma it once did.
How to Declare Bankruptcy
The first thing you need to do is find a good bankruptcy lawyer, then ask for all the steps you need to follow. It’s actually a lot easier than you think, involving getting all your papers in order and finally resolving all your debt.
Your Rights When You Declare Bankruptcy
You will have the right to be left alone once you filed for bankruptcy, and all lawsuits and foreclosures will be stopped. Say goodbye to harassing phone calls and knocks on your door, and start working on a plan to get yourself back on your feet again.
When Should I File for Bankruptcy?
If you are losing sleep because of financial worries, if you are scared to pick up the phone or if you are drowning in harassing letters from creditors, it might be time to file.
Alternatives to Bankruptcy
Filing for bankruptcy is an excellent option for many people, but it is not the right course for everyone. Several alternatives exist, such as allowing your property to foreclose, or making a direct creditor contract. Read on to find out more.
Before You Go to Court For Bankruptcy
When you are about to go to bankruptcy court, it is more than imperative that all your files are in order. Go over all the questions beforehand before you have a meeting with your creditors, and make sure that you have adequate preparation.
Can I File for Bankruptcy Again?
You will no doubt utter an enormous sigh of relief when you file for bankruptcy, but down the road you may find yourself in a similar position again. You are entitled to file more than once, but a number of years must go by before you do, depending on which Chapter you file. Ask your bankruptcy attorney for advice.
Forgetting to List Assets
Forgetting to list an asset when you file for bankruptcy may sound like a clever idea indeed. Not so. You may eventually lose your right to keep the asset if you are caught. Take the advice of your bankruptcy lawyer, before it’s too late…
What is an Automatic Stay?
If you are about to file for bankruptcy, this may because you have creditors hounding you all the time. With an automatic stay, they will disappear, as if by magic…
What is a Means Test?
If you are considering filing for Chapter 7 bankruptcy, whether or not you are legally allowed to do so will depend on the results of your means test. If you do not qualify, you will be forced into filing a Chapter 13. Ask you attorney for more details.
What is Wrongful Repossession?
Sometimes a possession is taken unlawfully after bankruptcy is filed. This can be a car, or occasionally something bigger. Usually, this is a misunderstanding, and all that is requires is a simple phone call to get it back. Sometimes, however, it takes the services of a bankruptcy lawyer to get justice where justice is due.
Life After Bankruptcy
You might think that getting credit again is an impossible feat once you have filed for bankruptcy. Wrong. Think again. It may take time, but within a few years, you should be back on your feet, and able to purchase a car and even a new house.
This article is for informational purposes only. You should not rely on this article as a legal opinion on any specific facts or circumstances, and you should not act upon this information without seeking professional counsel. Publication of this article and your receipt of this article does not create an attorney-client relationship.
