Finding yourself in a financial dilemma where your debt far exceeds your income is a difficult place to be. Along with this type of situation comes a significant amount of pressure and stress. Fortunately, there is a solution for situations like this and it comes in the form of bankruptcy. Bankruptcy is a legal process that can help people either minimize, or completely eliminate debt altogether. While it is not a requirement, it is highly recommended that you work with a Bankruptcy Lawyer in Marion, IN for assistance with this process.
To Determine if Bankruptcy is the Right Option for You
The primary reason you need to consult with a bankruptcy lawyer is to ensure that you actually qualify for the process. Simply having an inability to meet your financial obligations does not necessarily qualify you for bankruptcy. Instead, there are certain criteria that must also be met. Rather than wasting your time, only to receive a denial from the courts, if you consult a lawyer in the beginning you can determine if bankruptcy is actually the right option for you. Should you not qualify for bankruptcy, the attorney may be able to assist you in other ways to help with settling your financial issues.
To Determine Which Type of Filing to Make
Not only can a Bankruptcy Lawyer in Marion help to determine if bankruptcy is the right solution for you, but the lawyer can also help to determine which type of bankruptcy filing is best. The most popular options include Chapter 7 and Chapter 13. While both offer debt relief, both the qualification and process are completely different for each. The attorney can assess your financial situation to determine which option is best.
To Ensure Compliance
It’s also important to keep in mind that bankruptcy is a legal process. Consequently, there is certain manner in which everything needs to be handled. Failing to meet one deadline or even complete one piece of paperwork correctly could jeopardize your entire claim. When you consult with a lawyer at Ripke Law PC, this is an issue you don’t have to concern yourself with. The legal staff is well versed in the area of bankruptcy and understand exactly how the processes should be followed and will ensure that your case is handled accordingly.
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