What Does a Bankruptcy Lawyer Do?
A bankruptcy lawyer helps individuals and businesses eliminate or restructure debt through legal protection. Bankruptcy attorneys file bankruptcy petitions and represent clients.
Bankruptcy filing provides a fresh start for those overwhelmed by debt. A debt relief lawyer explains options and protects your rights.
Types of Bankruptcy
| Chapter | Who It’s For | Timeline | What Happens |
|---|---|---|---|
| Chapter 7 | Individuals, small businesses | 4-6 months | Liquidate assets, discharge debt |
| Chapter 13 | Individuals with income | 3-5 years | Repayment plan, keep assets |
| Chapter 11 | Businesses | Varies | Reorganization, continue operations |
| Chapter 12 | Family farmers/fishermen | Varies | Debt adjustment, seasonal income |
Find Debt Relief Today
Consult a bankruptcy attorney to explore debt relief options. Free consultations available.
Chapter 7 vs Chapter 13
Chapter 7 Bankruptcy
Chapter 7 eliminates most unsecured debt (credit cards, medical bills) in 4-6 months. Non-exempt assets may be sold to pay creditors.
Chapter 13 Bankruptcy
Chapter 13 creates a 3-5 year repayment plan based on income. You keep all assets but pay what you can afford.
What Bankruptcy Can Eliminate
- Credit Card Debt: Unsecured credit card balances discharged
- Medical Bills: Hospital and doctor bills eliminated
- Personal Loans: Unsecured loan balances cleared
- Utility Bills: Past due utility debt discharged
- Lawsuits: Pending and past judgments eliminated
- Collection Calls: Harassment stops immediately
What Bankruptcy Cannot Eliminate
Certain debts survive bankruptcy: student loans (unless undue hardship), child support, alimony, most tax debts, criminal fines, and HOA fees.
Frequently Asked Questions
Will bankruptcy ruin my credit?
Bankruptcy stays on a credit report 7-10 years, but credit recovery begins immediately. Many rebuild credit within 2-3 years.
Can I keep my house in bankruptcy?
Chapter 13 lets you keep your home with a repayment plan. Chapter 7 exemptions protect some equity.
How much does bankruptcy cost?
Attorney fees run $1,000-3,500. The court filing fee is $338 for Chapter 7, $313 for Chapter 13.
Should I use a bankruptcy lawyer?
While you can file yourself, bankruptcy attorneys ensure proper filing, protect exemptions, and prevent costly mistakes.
Conclusion
Bankruptcy lawyers provide a legal pathway to debt freedom. Whether Chapter 7 or Chapter 13, bankruptcy offers fresh start. Consult a debt relief lawyer to understand your options. Bankruptcy protection stops creditor harassment and provides a financial reset.
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Disclaimer: This content is for informational purposes.
