A bankruptcy lawyer is going to be your best resource if you are dealing with too much debt for you to handle, mostly because of the many ways in which he or she can assist you. A bankruptcy attorney can deal with aggressive creditors and help you choose the best type of bankruptcy for your situation.

Creditors

One of the worst parts about falling behind on your debts is having to deal with creditors and collection agencies. While many of the creditors and collection agencies will be quite professional and polite while trying to collect, there are some that can become very aggressive and threatening.

Your attorney can help you eliminate all contact with your creditors. The reason for this is that once your attorney files your bankruptcy case, a notice is sent to all of your creditors ordering them to cease all phone calls, mailing, and other collection activities. If any creditors continue contacting you, you can simply inform your attorney and he or she will contact the creditor or collection agency and order them to stop.

Type Of Bankruptcy

A difficult part of the bankruptcy process is trying to decide which type of bankruptcy to file, with chapter 7 and 13 being the two most common types of personal bankruptcy. If you are unemployed or completely unable to pay your debts while still paying for your basic living expenses, an attorney will recommend a chapter 7 filing. This is because a chapter 7 filing will completely discharge almost all types of debts so that you can start over with a clean slate.

A chapter 7 bankruptcy is not going to be able to assist you with discharging any debts to the IRS, student loan debts, or alimony/child support payments. In addition, a chapter 7 bankruptcy is often going to require that you surrender some property, such as any cash that you may have in your accounts, investments, or vehicles.

A chapter 13 is the type of bankruptcy that your attorney will recommend if you are in a position to pay back your debt, but only if the debt is restructured. A chapter 13 bankruptcy will create a payment plan that will lower the overall amount of debt that you will pay, while also lowering your monthly debt payments. The great part about this type of filing is that it will not require you to surrender property, as you will still be paying your debts.

Speak to a bankruptcy attorney today in order to discuss the many ways in which he or she can help you out. A bankruptcy attorney like Arthur M Richard can help you determine the best type of bankruptcy for your particular financial situation, while also providing you with relief from creditors and collection agencies.