The Bankruptcy Business Orange is Booming in Many Places Unfortunately

It is a shame that when some people are suffering there are others who stand to gain by this. Let us take the example of an attorney law firm Orange and the attorney legal Orange working there. In this day and age bankruptcy is a word which is thrown about in every level of society and no one bats an eyelid when they hear about yet another person or company filing for bankruptcy chapter 7 or chapter 13.
It is a sad fact that in a time when small business bankruptcy Orange is all too common, the bankruptcy business Orange is booming and good news for the business bankruptcy Orange attorneys. This is not to say that the attorneys are at fault here, just to point out that even bankruptcy has its positive side in terms of job opportunities.
Consider all of your options
Bankruptcy is not really the fresh start many think it to be. Certain types of debts, such as mortgage and child support debts, cannot be relieved. Bankruptcy stays on your credit record for up to ten years, and should be a last resort. Consider the following options instead:

• Credit counselling or financial coaching, which entails hiring a professional to help you work through your debt situation.
• Credit card consolidation can be a helpful way to get on top of credit card debt. Negotiating with creditors to work out a payment plan is another option.
• Loan modification or refinancing can help you figure out a way to pay back loans.

Know what type of bankruptcy to file

• The most popular is chapter 7, which is a straight or liquidation bankruptcy. Your debts are cancelled, and you may keep your protected property as long as you are able to keep making payments. Non-exempt property must be handed over to pay back your creditors.
• Chapter 13 allows you to set up a repayment plan, usually allowing between three and five years for you to pay back your creditors. Large assets, such as your house and car, may be kept as long as you are able to keep making payments. Many individuals will be forced to file a chapter 13 case because of the means test.

Undergo credit counselling
Prior to filing a bankruptcy case, an individual must obtain some consumer credit counselling from an entity approved by the U.S. Trustee within 180 days of the date of the filing of a bankruptcy case. Your business bankruptcy attorney Orange, or wherever, should assist you with completing the BAPCPA's means test to ensure that you file properly. This counselling is intended to provide an individual with alternatives to filing a bankruptcy case. Part of the counselling will include a "means" test to determine what type of bankruptcy you are eligible to file. Those with lesser means usually file Chapter 7, while those with greater means file Chapter 13 Bankruptcy.
Getting a chapter 7 discharge Orange is just one of the many things that an attorney can help with and each case means more fees for him!

My Best Friend is a Successful Attorney for Bankruptcy Whittier

There are some people who hate attorneys of every kind and I suppose they have their reasons. I am not one of them because I know how hard these people work and it is not their fault that they see people at a very difficult time in their lives. My best friend is a successful attorney for bankruptcy Whittier and he says that it is like hating the doctor for telling you that you have cancer!

Although this friend works for an attorney law firm Whittier which has many a professional attorney bankruptcy Whittier, I know that there is many an attorney in bankruptcy Whittier who is not as professional. A good attorney bankruptcy lawyer Whittier will provide a reliable and efficient service and keep your best interests in mind.

After a proper evaluation of your case, the attorney should arrange for you to attend pre-bankruptcy counselling, a requirement under the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). As this goes on, he should review all your insurance policies to determine if you are entitled to make any claims to raise funds to pay off some of your debts. At the same time, he should determine if there is any legal technicality that may prevent your bankruptcy application from being successful.

Once he has the complete picture of your situation, the attorney would draft out a formal petition for a Chapter 13 plan that includes a proposed payment schedule. You should expect your attorney to go through the petition with you before filing it. Upon filing the petition, your attorney will serve the Notice of Bankruptcy Filing together with the Chapter 13 plan on each of your creditors.

Your attorney would assist you in organizing a meeting with all creditors about 30 days after filing your petition. This is to explain how you will repay your debts to them and address their individual concerns. Should any of your creditors file a lawsuit against you, your attorney would file a Notice of Bankruptcy to address it. Your creditors and the bankruptcy trustee have the right to file an objection against your Chapter 13 plan or a complaint to determine dischargeability. In such a case, your attorney should work out a plan to defend you against it.

During the Meeting of Creditors, the bankruptcy trustee will ask the debtor various questions about the bankruptcy, such as whether all of the information contained within the bankruptcy documents are true and correct. The trustee may ask other questions about a debtor's financial affairs. It is important to note that at the Meeting of Creditors, as the name suggests, any creditor may appear and ask a debtor questions about his bankruptcy and finances.

When dealing with an attorney bankruptcy law Whittier, or anywhere else in the country, your best bet is to be as honest as you can when you are asked for information. This is because if you try to hide things and they later come to light you can be accused of committing fraud.