When You Need A Chapter 7 Bankruptcy Lawyer

Many individuals are finding themselves in need of a Chapter 7 bankruptcy lawyer

. Although this can be a stressful time in the life of a person, couple or family, sometimes wiping the financial slate clear and starting again is the only way to gain traction. Before making this decision, there are certain considerations that should be pondered including the benefits, the repercussions and whether there are any alternatives.

- Benefits: One of the obvious benefits of filing Chapter 7 is that debts will be forgiven and a person is given the chance to start over. If a debtor has been experiencing harassing phone calls, insomnia, depression, anxiety and relationship troubles because of the weight of money troubles, all of these may be relieved, as well.

- Repercussions: While there are surely benefits to having a fresh start, there are also repercussions to consider in order to make a solid decision. For one, a person's credit rating will be adversely affected. This will affect future mortgages and loans for multiple years. It will also be something looked at by prospective employers, insurance companies and landlords. Some bills that will still have to be paid include student loans, taxes, and child support.

- Alternatives: Considering all alternatives will be necessary to have peace with one's decision. Because bankruptcy is a serious decision, it shouldn't be made impulsively but rather after taking a look at all angles. Some alternative remedies include:

o Taking a 2nd job: Taking a 2nd or even 3rd job might help a person gain control over their escalating bills. Working part-time on weekends, evenings or freelancing could bring in extra income.

o Cutting all non-essential expenses: Reducing the expenditures in a household could take some strain out of the budget. Canceling cable television, curtailing restaurant meals, raising deductibles on home and car insurance, putting a hold on gym memberships, getting a no-frills phone and taking advantage of free services like the library for internet, DVDs and books can all help ease the budget into the black.

o Sell something: From an extra vehicle to items cluttering up your garage or storage shed, there's likely cash to be made by unused and unneeded possessions. Remember the saying about one person's trash being another's treasure.

- Finding an attorney: After considering alternatives as well as benefits and repercussions, Chapter 7 bankruptcy may still be the best option. If this is the case, it's time to find a good lawyer. It's important to find an attorney that specializes in handling bankruptcies. Beware of anyone of calls themselves a preparer rather than a law firm. Preparers will simply file paperwork but won't be able to offer advice, guidance and representation once the process starts. Ask family, friends, neighbors and co-workers for a recommendation. Read reviews of the legal eagle online. Meet with the attorney in person to make sure he or she understands your case.

When a person thinks it's time to find a Chapter 7 bankruptcy lawyer, he or she should take some time to consider the pros, cons and alternative possibilities. In order to find a good attorney, getting some word-of-mouth referrals will be wise.

by: Abigail Aaronson

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