Monday, February 1, 2016
There are various types of attorneys, some of which practice solely in specific area of the law. Those people who find that they need help with bankruptcy, business law, contracts, real estate and other such situations might find themselves in need of an attorney to help them settle their debt assist them with collecting through debt collection service. Having a legal professional on your side can certainly improve your chances to settle debt. Case Evaluation and Strategy Development Whether you’re the creditor who’s looking to collect on a debt or the debtor who is looking for a way out of debt, debt attorneys can assist you. Perhaps the most valuable service that such attorneys provided is case evaluation and strategy development. The most difficult part of either collecting on a debt or getting out of it is knowing where to begin.
A Chapter 7 bankruptcy is one option for debtors who are overwhelmed by debt and cannot pay their bills without legal intervention. Although Chapter 7 is one of the most common forms of bankruptcy for individuals, it is not necessarily the best choice, and it has serious consequences. A debtor will want to consult with a bankruptcy lawyer prior to filing for any bankruptcy to ensure they are choosing the option best for their situation. Chapter 7 Qualifications A bankruptcy under Chapter 7 is open to any individual or business, although it is usually used by individuals. There are no debt limits or requirements based on solvency. There are, however, certain requirements related to the filing of previous bankruptcies, and the debtor is usually required to receive credit counseling prior to filing. A person will likely choose to file under Chapter 7 if they have limited income or no reliable means of repaying their current debt.