For some people Chapter 7 bankruptcy can be the solution to some of their problems. When you are working with a bankruptcy attorney on this, you will find that you maintain the legality of the process and get the maximum possible results.
In fact, it is important that you understand the ways that this Chapter 7 bankruptcy process can help you. Here is a look at some of the biggest ways that you are going to benefit from this process as you work with a bankruptcy attorney.
The first thing you are going to find is that in terms of community debts, you can actually be removed from them as long as you are divorced. This frees you from the stress of these debts. However, you will need to understand that your ex will still be responsible for them. Because of this, you will need to consider the process of bankruptcy before you proceed in this process.
Next, you are going to want to consider the liens that might be on your property. With a Chapter 7 bankruptcy, you are going to find that only certain liens can be removed. This includes tax liens that can potentially be removed as long as a series of requirements such as age of the debt and the fact that no fraud occurred with these debts.
Another way that this process can help you is that the creditors you have will no longer be allowed to harass you. This means that collection agencies and the creditors themselves are not allowed to call you and should they continue to do so, they can have legal repercussions for the actual contact as well.
While looking at the process of Chapter 7 bankruptcy, it is going to be important that you understand one of the misconceptions about this process. While you can get an automatic stay placed on your home until the time that your case has been discharged, you are going to find that this isn’t always a perfect approach. What can still happen is the bank can seek relief from this automatic stay and you can still lose your home and assets. A better approach is going to contact the lender directly and see what you can work out with them. By doing this, you are going to have the chance to avoid any problems and there will be a better chance you and your family can stay in your home.
Some people will also find that when it comes to working with a bankruptcy attorney, the minor details of what can and cannot be discharged are better understood as well. It is generally a good idea for you to sit down and to go over each of the items that you want to discharge in this manner, so you can understand what options you are going to have. Then you can proceed to file for bankruptcy with the knowledge and peace of mind that you are handling this process in a legal manner that will not have any repercussions.