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Monday, October 13, 2008

When to Hire a Bankruptcy Attorney

If you are completely saddled with insurmountable debt, bankruptcy might be the only way you can regain control of your finances. Both individuals and companies have the ability to file for bankruptcy.

There are no laws requiring you to hire a lawyer if you file either Chapter 7 bankruptcy or Chapter 13 bankruptcy. However, going into such a proceeding without the council of an experienced attorney is highly unadvisable. Bankruptcy laws are very complex, and you will most likely need the assistance of a bankruptcy lawyer to navigate through them. Remember, you are dealing with your personal finances. This is not a matter to mess around with.

Recently, bankruptcy laws have changed. A 2005 bill has enabled creditors to more easily collect the debts owed to them even after you've filed for bankruptcy. As a result, it is more important than ever to consult an experienced bankruptcy attorney if you decide that this is the best option for you.

A good lawyer can help save you a great deal of time wading through the myriad of complex laws and regulations regarding bankruptcy. He can also help you determine which chapter of bankruptcy is appropriate for your circumstances.

The Bankruptcy Directory can help you find the right attorney to suit your individual needs. Please contact us today for a listing of lawyers in your area.

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Disclaimer: The information throughout The Bankruptcy Directory is not intended to be or to replace legal advice. The information throughout The Bankruptcy Directory is intended to provide general information regarding bankruptcy law. If you are interested in filing for bankruptcy, contact a bankruptcy lawyer in your area.