What You Should Know About Finding a Bankruptcy Lawyer in Charles Town, WV

A downturn in the economy over the last few years has been overwhelming and increasing numbers of people are considering filing for consumer bankruptcy for those who find themselves in serious financial trouble. Though once discouraged, bankruptcy is now seen as an opportunity for people to get a fresh start after downward spiraling financial conditions made it impossible to recover. Deciding whether to file for bankruptcy depends on a person’s unique situation, and speaking with a lawyer can help determine whether debt settlement, debt consolidation, credit counseling, or filing for bankruptcy is their best option.

The purpose of bankruptcy is to provide debt relief from creditors when other forms of relief have failed. A fresh financial start can end the harassment and pressure of threatening letters, wage garnishment, and lawsuits. Because filing bankruptcy has advantages and disadvantages, different options are available depending on the amount of money that is owed and the kind of debts a person has. A Bankruptcy Lawyer in Charles Town, WV can help a person look at all the options available to make sure they are taking the correct approach to their debt problems.

There are different types of bankruptcy and the processes of filing are extensive and can be complicated depending on the situation. Retaining a lawyer experienced and skilled in bankruptcy law is beneficial for those who do not want to navigate the court process alone. A Bankruptcy Lawyer in Charles Town, WV can help their client choose the type of bankruptcy that will offer them the right financial relief.

The two most commonly used types of personal bankruptcy are Chapter 7 and Chapter 13. Under Chapter 7, the bankrupt person is allowed to keep essential property, and non-exempt property is sold and distributed to creditors. With a Chapter 13 situation, the person will keep their assets and work out a repayment schedule from income in the future. Bankruptcy laws and regulations are federal and under the direction of the US Bankruptcy Court under District Courts.

Though federal laws control procedures, it is the state laws that will regulate property rights. Filing for bankruptcy can offer a fresh start for individuals and businesses. To determine if it is right for your situation, contact the office or visit the website at BottnerSkillman.com.

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