Nobody sets out on their career path at an early age planning on filing for bankruptcy someday, so we understand the stress one feels when they realize that they’re unable to uphold their end of their debts, through fiscal hardship or otherwise. For many Americans, financial ruin is only a car accident or sick day away, and once one of these unexpected tragedies occur, many find themselves unable to pay bills, loans and other payments they may have acquired. A situation can go from bad to worse in the case of serious medical conditions, which may strike suddenly and be extremely costly to cover, even with health insurance.
With the economy in the state that it’s in, tens of thousands of Americans are considering bankruptcy as a viable option for dealing with their quickly accruing debts. While being a solid option for those who qualify, there is also a great deal of responsibility and work that come with it. Many are deterred by the application process, which may contain hundreds of pages of paperwork and require hours of work to complete, and even more are turned off by the mandatory debt management classes required to be eligible to file. The truth is that there is a lot of work that goes into filing bankruptcy, but it can be make much easier by hiring a professional bankruptcy attorney, such as John A. Hixson, attorney at law, to assist throughout the process.
There are two main types of bankruptcy that individuals file: chapter 7 bankruptcy being the most prominent, and chapter 13 being a slower, but less invasive alternative. John A. Hixson can quickly help you decide which of these two specific chapter you qualify for and get the ball rolling in pulling yourself and your family out of impending financial disaster.
A prolific chapter 7 bankruptcy lawyer, such as attorney Hixson, will immediately help you file the paperwork required to qualify for bankruptcy so that you may have an automatic stay placed on your assets as quickly as possible. An automatic stay is a court order given to creditors which prevents them from repossessing your assets, and sends a clear signal that you are filing for bankruptcy, which often halts their incessant harassment.
Chapter 7 bankruptcy, also known as liquidation process is a quick process, which can last anywhere from four to six months, and requires you to essentially surrender your assets to a trustee, after declaring which of your possessions are secured and unsecured, based on legal standing. Secured assets are things such as your vehicle, home equity, furnishings, clothing, or anything else that is required for you to uphold the standard of living you are used to. Your court appointed trustee will review your inventory and decide which of your unsecured assets can be liquidated in order to repay your creditors for as close to the full amount of your debt as possible. John A. Hixson will tenaciously fight for you and your right to live a comfortable lifestyle with your trustee and creditors in deciding which of your assets are secured and unsecured.
So if you’re ready to climb out of the hole of debt today, give John A. Hixson, professional chapter 7 bankruptcy lawyer today, and schedule a completely free, zero obligation consultation! We’ll be waiting for your call!