To help insure that bankruptcy works successfully for you, it's important to have a attorney work with you and show you how to best use these statutes to work out your financial situation.
Filing for personal bankruptcy is a real asset.
If you file for bankruptcy it's hard to go wrong.
A good bankruptcy attorney is not very hard to locate.
While this was once a specialized area of the law, bankruptcy has become so prevalent that it's now practiced by many attorneys who are located in both large cities and small towns.
Once you find a bankruptcy attorney you feel you can work with, the next step is to review with them the chapter 7 and chapter 13 bankruptcy laws.
These laws serve two different purposes and probably one but not both will work well for your needs.
Chapter 7 is the simpler of the two.
It's primarily for those who are trying to liquidate their debts and don't have a good ongoing income stream to work with.
It's also for those who don't have many assets that they need to protect and hold onto after bankruptcy.
For those who do find themselves in a more complex set of circumstances, it's likely that Chapter 13 will fit their needs.
Both need the assistance of a good attorney.
Chapter 7 and chapter 13 bankruptcy laws are there to help you and the best way to take advantage of this help is to get a bankruptcy attorney who can show you how to use them to the fullest extent possible.