Navigating The Two Types of Bankruptcy
When you are faced with huge debts, no job, and seemingly no regular source of income you might be considering going into bankruptcy. There are specialized attorneys in Portsmouth, New Hampshire that deal with bankruptcy cases in a very professional manner. The choice to go through with bankruptcy is never easy and finding a good attorney can be daunting. You need to seek out attorneys that specialize in bankruptcy cases and will explain to you all your options.
There are two types of bankruptcy that you can select from and your lawyers will be more than glad to help you make the right choices. One of the first things that you need to do before you even start your case is to evaluate and select an attorney from the Portsmouth lawyers available that you feel will work towards solving your problems. You need an attorneys or Portsmouth lawyers that are willing to work as your advocate and advisor in your critical financial situation.
The bankruptcy attorney who is working on your New Hampshire case will work as an advocate toward resolving some of your financial problems by trying to get your debtors to lower the bill and/or lower the interest rate. The Portsmouth bankruptcy attorney is there to advise you on which type of bankruptcy best suits your needs.
The Portsmouth, New Hampshire attorneys all know that if you have mounting medical bills, credit card debts and are faced with foreclosure that a Chapter 7 Bankruptcy is the best recourse that you have in order to get your life back into order. Chapter 7 Bankruptcy will clear up all your debts making it easier for you. You will be able to get credit once again and start all over once you begin working. Your slate is wiped clean. This is what the bankruptcy attorney will work towards for you. By choosing Portsmouth attorneys you will be certain to get a lawyer who is familiar to New Hampshire bankruptcy judges, which will be a great advantage.
When you have a lot of debts like credit cards, revolving charges, hospital bills, and other bills but you are still working you are not entitled to take Chapter 7 Bankruptcy, chapter 13 may be the route you need to pursue. The Portsmouth attorney that you select knows this but they also know that you do have another option that will help you relieve your financial burdens.
Chapter 13 Bankruptcy is another choice that will help you with your financial problems. Your New Hampshire attorney will need to negotiate with the people that you may owe to get your bills lowered. They will work with the bank that holds the mortgage on your home to help prevent foreclosure. Also in medical cases they may need to negotiate for you on your hospital bills getting the balances lowered.
When you go to New Hampshire bankruptcy court your attorney will advocate on your behalf to get your bills consolidated into one payment plan that is court controlled. This is very helpful because you will only pay a small percent on your bills to the courts who will distribute the payments to your debtors. You will not be completely out of debt; however, you will be better off financially because of your Portsmouth bankruptcy attorney’s efforts to help you get out of debt.
