Filing for bankruptcy gives you some reprieve from debt. There are a number of ways you can do this. One of them is through the Chapter 7 bankruptcy. In order to successfully file for this kind of bankruptcy, you require assistance from a Chapter 7 bankruptcy lawyer. This is a professional person who will ensure that proper filing is done.
Before you can embark into the journey of getting out of debt, you need to understand a few things about bankruptcies. It is imperative that you discuss what lies in store. Hire a Chapter 7 bankruptcy lawyer Milwaukee WI to take you through the necessary steps. It can be detrimental to get into something you understand little about.
Here are a few categories under which Chapter 7 is defined:
* Under Chapter 7 bankruptcy, an inventory of your property is taken. The details are forwarded to the court where the case is being filed. The courts then order for liquidation of the property in question. Proceedings from the sale are used to pay off creditors. Such procedures require that you be assisted by a Chapter 7 bankruptcy lawyer.
* If you have accumulated a consumer debt, then you cannot claim bankruptcy under Chapter 7. Courts view this as a way of granting a debtor way too much relief. It would be unfair to do so. The income of the person filing for bankruptcy should be below the median income per month of employed people in that state.
* Before a bankruptcy case is filed, a debtor is supposed to undergo credit counseling at an approved agency. This session is mandatory for all people seeking debt relief under Chapter 7 banking provisions. The credit agency providing the counseling sessions should be approved by the justice department. Upon completion of the sessions, a certificate is granted. Chapter 7 bankruptcy lawyer Milwaukee WI uses this certificate together with the completed forms to file the bankruptcy case.
* If you are eligible for this kind of bankruptcy case, you must fill in the correct forms. On the form you are required to list every creditor, debts, property owned and the current income. In a case where proper procedure has not been followed, a court may lead to a dismissal or delays.
* In order to simplify the process, you should hire a Chapter 7 Bankruptcy Lawyer. This is the person or firm that will make sure all relevant procedures have been followed. The lawyer confirms that the forms are filled correctly and the required information disclosed. In case you need some assistance on filling such forms, you can seek the lawyer’s assistance. You can also check from the courts website whether you had downloaded the correct forms.