Many people find themselves in a position where they are having to file for bankruptcy when they never would have expected it. Some people can be judgmental of this situation, but the truth is that it can happen to anyone. Often, it is because circumstances that were beyond the person’s control ended up ruining their financial situation. For example, someone can end up with an unexpected illness that keeps them out of work for months. If you have to file bankruptcy, it might be a good idea to work with a bankruptcy attorney.
If you are going to be working with a bankruptcy attorney, it would be a good idea to work with one who has specialized in cases that are similar to yours. For example, if you are going to be filing a chapter 7 bankruptcy, you should probably try to work with a chapter 7 bankruptcy attorney. This attorney will likely be able to answer many questions that you have as well. For example, you might wonder, how do active bankruptcies affect people’s credit? What should I know about all types of bankruptcies? Are personal bankruptcies public record? You can also do your own research, but most likely, an attorney will be able to give you more detailed answers than you will be able to find on the internet.
Financial troubles can be one of the most stressful struggles that a person can face in life. When the bills keep coming, the creditors keep calling, and savings accounts keep dwindling, sometimes the only option is to file for bankruptcy and hire a bankruptcy lawyer in Corydon. Filing for bankruptcy is a major life decision that should not be taken lightly. That is why it is important to always enlist the aid of a bankruptcy lawyer in Corydon.
According to the Administrative Office of the U.S. Courts, bankruptcy cases filed in 2012 totaled 1,311,602, which is 14 percent less than the filings for the previous year. Of those filed, personl filings accounted for 1,267,167 and business filings made up the remaining 44,435. These numbers dwarf the findings thirty years prior. In 1980, a mere 300,000 filed for bankruptcy. It is unknown how many of these filings enlisted the services of an attorney such as a bankruptcy lawyer in Corydon.
There are several different types of bankruptcies that a person or business can file for, and it helps to hire a bankruptcy lawyer in Corydon to help navigate the process and repercussions of the complicated process. The five types of bankruptcies a bankruptcy attorney in Corydon can help a person, business, or corporation with are Chapter 7 (one of the most uncomplicated and potentially quickest bankruptcies to get through the courts), Chapter 9 (which only pertain to municipalities such as political subdivisions or a public agencies), Chapter 11 (generally reserved for businesses, corporations, and included complicated business dealings such as debt consolidation, mergers, asset sell off, among other things), Chapter 12 (specifically applies to farmers and fishermen. In a Chapter 12 filing, a person does not lose their assets but must repay their loans out of their future earnings), and the fifth type of bankruptcy is Chapter 13 (similar to a Chapter 12, the filer does not need to sell their assets but must pay off their debt from their future earnings). A bankruptcy lawyer in Corydon can explain the intricacies of these types.
Bankruptcy is not the only time in life in which it is beneficial to hire a bankruptcy attorney in corydon. Other major life events that may require the services of a lawyer such as a bankruptcy lawyer in Corydon include divorce, estate issues, wealth management, or family law. Specifically related to bankruptcies, however, a bankruptcy lawyer in corydon can help you file your claim and correctly steer you through the court system.