An important consideration when you decide to file bankruptcy is whether or not you need to find a bankruptcy lawyer in St. Petersburg FL. Filed on your own, bankruptcy can be a very daunting task. This is why a bankruptcy lawyer can come in handy.
The process of filing bankruptcy is time-consuming and long. It can be extremely complicated. In order to determine whether or not you need a lawyer to assist with your case, use the tips here:
Know Which Type of Bankruptcy is Right for You
There are two major types of bankruptcies: Chapter 7 and Chapter 13.
Chapter 7 Bankruptcy
In this type of bankruptcy, most of a person’s assets are liquidated and most debt is discharged. Chapter 7 provides almost immediate relief from your existing creditors. If you are filing Chapter 7 bankruptcy, you may be able to handle it alone, but that’s not recommended. It still requires a good deal of paperwork, legal research, and time. You can avoid all of this when you find a bankruptcy lawyer in St. Petersburg, FL.
Chapter 13 Bankruptcy
A Chapter 13 Bankruptcy is one where you agree to a plan for repayment. It allows you to maintain your assets, it does not allow foreclosure of your home, and helps to prevent vehicles from being repossessed.
Working with a bankruptcy attorney is important in Chapter 7 or Chapter 13, but it an attorney’s assistance is especially important in Chapter 13. Statistics show that many Chapter 13 cases that are filed without the assistance of an attorney are dismissed. This isn’t a risk you want to take. Taking the time to find a bankruptcy lawyer in St. Petersburg, FL is an investment you won’t regret.