A Bankruptcy Attorney Phoenix Will Show You What You’re Facing
Losing all your hard earned money and treasured belongings is a thing you want to avoid. At times, you just can’t prevent this situation. Life has a way of dealing the wrong card at the wrong time. This is where a bankruptcy lawyer in Phoenix may be of help. This individual concentrates on the many legal facets behind the task.
What are the duties of a bankruptcy attorney in Phoenix?
There are lots of things that a lawyer can do for you. He or she will file a petition on your behalf declaring bankruptcy. In addition to this, your lawyer will write reports, take a look at your assets, and attend hearings. In most cases, when you file for bankruptcy, there are additional legal issues that connected to your financial situation. These situations are home foreclosures, liens, repossessions, creditor lawsuits, and garnishment of wages. Because of these other problems, a lot of bankruptcy lawyers in Phoenix represent their clients through the entire court proceedings for example the issues associated with it.
What can you expect?
Once you have gotten the services of a bankruptcy attorney in Phoenix, there are several things that can take place. One scenario is this. He or she works with a trustee to ensure that you liquidate your assets correctly. The person also makes sure that you pay creditors in full. Another case is when the lawyer works together with the Court to develop a reorganization and creditor payment plan. Afterwards, you want your bankruptcy attorney to perform the following for you – stop home foreclosure, stop car repossession, and avoid wage garnishment.
Always find an experienced lawyer
In addition to being knowledgeable on the latest information, hire an experienced bankruptcy lawyer. Phoenix clients usually face two types of bankruptcy proceedings – Chapter 7 liquidation and the Court-approved reorganization plans under Chapters 9, 11, 12, and 13. Your lawyer will tell you which chapter you need to file. He or she can in addition have the details for filing bankruptcy under that chapter. A lawyer with many years of experience will pinpoint the differences of each chapter and how they may affect your life.
The following is a good example. Under Chapter 7, liquidation of certain assets, including vacation homes, second cars, and family heirlooms, is possible to pay off debtors. There is, however, no repayment plan. In the case of Chapter 13, you still own your property. Your creditors are another story. The Court-approved plan sets the payment schedule and you are not able to divert from it.
Not just for individual clients
A business may even employ a bankruptcy attorney. Phoenix businesses that are in jeopardy can also file for Chapter 11. Following the process, the business will continue its current operations. The only stipulation is this. It has to repay its creditors in accordance with a reorganization plan devised by the court.
In other instances, a municipality can serve as the client. Included in this are a city, town, village, county, or school district. When this occurs, the municipality can file for Chapter 9 and rearrange in the process. For family farmers, there are lawyers that specialize in Chapter 12 bankruptcy.
Where to look for one?
One place to begin looking is via your state’s local Bar Association website. Laws relating to bankruptcy differ between states. It is essential to find an experienced attorney or one connected to a law firm that specializes in the field.
Libera Ferrari is in the process of filing for bankruptcy and needs to get the help of a bankruptcy attorney phoenix. For more details regarding how to make the most out of it, please educate yourself about bankruptcy lawyer phoenix.
Processing your request, Please wait....
