Lawyers Blog Blog,Legal Chapter 7 or Chapter 13?

Chapter 7 or Chapter 13?

June 17, 2017June 17, 2017 | David J. HernandezDavid J. Hernandez | 0 Comment | 2:51 pm
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Realizing that you are in a position that might require filing for bankruptcy is a hard pill to swallow for anybody. It takes a lot of humility to understand that you have screwed up. Filing for bankruptcy usually has a negative connotation associated with it. It is a very long thought-out and difficult decision people make. However, it is important to know what happens when you file for bankruptcy. First when considering whether or not you should file for bankruptcy you will be required to attend approximately six months of credit counseling and at the end you will take a test to see whether Chapter 7 or Chapter 13 is more suited to your needs.

Chapter 7 and Chapter 13 are the two most common types of bankruptcy individuals end up filing with the Court. With Chapter 13 you will set up a specific payment plan including payment and time period to pay back the loan to pay back your creditors on payments that are overdue. The time period used is typically about five years. The Court needs to approve your payment plan and this happens once they have sufficient evidence that you have the financial means to pay the debts back as you have outlined. Often this is the more desirable option as you get to keep your property and work over time to pay things off. On the other hand, with Chapter 7 you have to fill out a bunch of paperwork detailing all of the property you own and assign a value to each item. It tends to be known as liquidation bankruptcy. You then typically have a hearing where your creditors get to determine whether each item should be part of the bankruptcy. A trustee will then take these items and work on converting them into cash to pay back your creditors. Hence the liquidation aspect. It is important to understand that once a bankruptcy claim is filed, an automatic stay is put in place which prevents creditors from furthering harassing you for payment during the proceedings.

A lot of people enjoy this aspect because it can get overwhelming having creditors down your back every day. A month or so after you file your claim, your trustee with meet with creditors to discus your bankruptcy. The trustee acts as the intermediary between you and the creditors so that you don’t keep receiving harassment from creditors. The trustee will go over the paperwork with you and make sure there aren’t any discrepancies with values you have assigned different items of property you listed. Based on your goals, assets, debts, income and expenses filing for bankruptcy can help wipe out most types of debt including credit cards and medical bills, reduce monthly payments, stop creditor harassment, stop repossession of your vehicle, stop the foreclosure of your residence, stop wage garnishments, and even stop the stress caused by debt collectors. Either option you choose, Chapter 7 or Chapter 13, it is important to have an attorney look over things. Kirkpatrick & Associates is a great firm to call. They will assist you in getting back on the right track. Bankruptcy may not be the best option for everyone so it is important to have an attorney go over things with you and help you come to the best option for your situation.

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So you find yourself in a car accident and have sustained serious injuries that will require extensive medical care. Instead of stressing about how you are going to pay for all of the new expenses, think about hiring a personal injury attorney. If you are around the San Antonio area perhaps considering contacting the Law Offices of Jan Perry Lederer for some great advice. She is experienced in helping individuals suffering from injuries including physical, emotional, or mental and getting you the compensation and relief you are entitled to. When meeting with an attorney there are some key questions you’ll want to ask.

First, it is important to ask about the attorney’s educational background. You’ll want to know whether or not they have a solid education and if they know their stuff or not. Second, along the same lines you should ask if they have taken any continuing education classes recently. Lawyers are required to take a certain number of hours of continuing education in their field each year to stay current. Third, it is important to ask how long they have been in practice. You’ll want someone seasoned to work with because they’ll know the ins and outs very well. Fourth, you can ask how many claims they have settled outside of court. This obviously is the goal, as going to court can take months or even years. You want to know you have a good negotiator on your side.

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A Board Certified Attorney

If you do nothing else when looking to hire a criminal defense attorney, make certain they are certified with the Texas Board of Legal Specialization. There are well over 70,000 lawyers that are currently practicing here in Houston, but there are only under 200 that are board certified. This will ensure that if your case goes to trial you have the absolute best chance of beating the case.Years of Experience

Just like any other profession, the more years experience on the job, the better the person is at what they do. Trail experience is very important when it comes to finding and hiring the right criminal defense attorney. Find out if they have recently become a defense attorney after a long career as a prosecutor. The transition is often difficult, and you do not want to be one of the first cases they are trying as a defense attorney.

Trust Your Gut Feelings

This criminal defense attorney in Houston will basically be holding your life in their hands, so make sure that you communicate well with them. If you get the feeling that you are just another case and that they are not getting emotionally involved, it might be a good idea to look for an attorney you communicate better with. They should be easy to talk to and yet aggressive when it comes time to defending you in front of the court.

Time To Pay The Bill

Make sure that you understand the payment structure, and then be certain that you are comfortable with the payment plan. Just because an attorney says that they promise to be the lowest rates in Houston, never let that be deciding factors in how you choose your attorney. You are most likely going to be paying for these fees upfront, so getting a crystal clear understanding of the payment should be laid out in your written contract. If your criminal defense attorney decides to charge you per court setting, you might want to negotiate a different payment structure.

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There are hundreds of divorce attorneys practicing in Sacramento alone. What sets them apart? Experience is the word. When you approach a few attorneys that you have shortlisted, be sure to find out how many years of practice they have put in. Ask your prospects about the number of divorce cases they have dealt with. The success rate will also disclose a lot about the attorney you are about to hire. On the other hand, confirm that the said attorney only specializes in divorce cases.

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Just like in any other profession, divorce attorneys charge their clients a range of fees depending on the services rendered. During the first appointment, find out how much the lawyer charges for consultation, filing and other related activities. Some attorneys operate on an hourly fee basis. There could also be a retainer for the entire process. Get to know about these upfront. Inquire from the lawyer when and how often you will be billed for the service.

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