When you are down to your last resort and you have to file bankruptcy, you want to make sure you have a lawyer helping you with the process. It is bad enough that it has gotten to this point of financial distress; you don’t want to add to the stress you are already under by trying to represent yourself. The biggest reason why you should contact a Bankruptcy Lawyer In San Diego for assistance is because filing bankruptcy is a pretty complicated process. If you try to represent yourself, you could make a mistake in your paperwork that ends up costing you. You could file the wrong kind of bankruptcy and end up losing your home and your car. Deciding not to hire a Bankruptcy Lawyer In San Diego is a quick way to make a bad situation get a lot worse.
The first thing a bankruptcy lawyer from a law firm such as Handel On The Law Productions is going to help you do is decide what kind of bankruptcy you should be filing. They will do this by explaining what Chapter 7 and Chapter 13 are. Then, they will look at your financial situation and tell you whether they think you qualify for Chapter 7. As long as you qualify for Chapter 7 you can decide which type you want to file for. If you do not qualify for Chapter 7 you would have to file for Chapter 13.
Chapter 7 is considered by many to be the more desirable option because it will wipe your credit history clean with the exception of a few unsecured debts. The only problem with Chapter 7 is the fact that some of your assets and property could get liquidated. You should keep in mind that Chapter 7 is a lot faster than Chapter 13. Chapter 7 is a process that takes three to six months to conclude. When you file Chapter 13 you have anywhere from 3 to 5 years before your credit is repaired and you can start applying for credit cards and loans again. The reason why Chapter 13 takes so long is because you are still paying back all of your debts, you are just going it over a lengthy pay schedule.
