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When you are facing overwhelming financial problems, talking with a bankruptcy lawyer may be a helpful way to learn more about your options. An experienced bankruptcy lawyer has handled many, many bankruptcies for people and businesses who have presented a wide variety of circumstances. In addition, bankruptcy law is a rather complex and often-changing field of law that requires the guidance of a skilled attorney.
Changes in Bankruptcy Law
To make things even more complicated, there have been some major changes in bankruptcy law in recent years. In 2005, it became more complex and more expensive to file for bankruptcy. It's not as easy to file a personal bankruptcy as it used to be, thanks in part to the people who abused bankruptcy laws for their own interests.
A significant new restriction on the most commonly used type of personal bankruptcy, Chapter 7, was also put into place. There is now a "means test" that must be passed to be eligible for a Chapter 7 bankruptcy. If your income is too high, a Chapter 7 bankruptcy will not be available to you.
An Automatic Stay to Stop Your Creditors
One of the most significant steps that your bankruptcy attorney can help you with is getting an automatic stay. When your attorney files your bankruptcy with the court, the automatic stay will be issued. The stay will stop your creditors from filing legal actions against you.
Getting an automatic stay is especially important if you are at risk of:
Contact an Experienced Bankruptcy Lawyer
Talking with a seasoned bankruptcy lawyer can put your mind at ease and answer all your concerns about bankruptcy and your future. Get your financial information together and contact a bankruptcy lawyer in your area today.
The number of Americans filing for bankruptcy is growing, even as changes in the law have made it more difficult and more expensive for people to file.
According to Automate...
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