Article provided by: vanderbroeklaw.com

Anne M. VanderBroek at VanderBroek Law is the #1 bankruptcy lawyer in Grand Haven with several years of experience and legal expertise. She can help you file Chapter 11 reorganization cases and Chapter 7 cases, and take care of all aspects of your bankruptcy case.

How do I file bankruptcy?

The federal law governs the process of bankruptcy, and it aims to provide financial relief to businesses and individuals dealing with an overwhelming amount of debt. Filing bankruptcy can cease all collection activity from your creditors and collection agencies. You have two options when it comes to file for bankruptcy: Chapter 7 and Chapter 13. 

With Chapter 7, you must discharge all your debts after using your liquid assets to repay some of your debt. You may qualify for this type of bankruptcy upon passing a test, which helps prove to the court that your income is lower than the average income for running a family in your state. If you fail this test, you automatically qualify for filing bankruptcy under Chapter 13. With Chapter 13, you must repay a part of your total debt in a 3-5 year installment payment plan. If you own a business, you also have the option of filing for Chapter 11 bankruptcy, which is subject to court approval.

How much does it cost to hire a bankruptcy attorney?

The cost of hiring a bankruptcy attorney can vary upon where you live, the experience of the attorney, and the complexity of your case, etc. Your attorney can charge anywhere from $1,000 - $3,000 for a Chapter 7 case, and anywhere from $2,500 - $6,000 for a Chapter 13 case.

It is important to note the cost of hiring a bankruptcy lawyer because unless you are an expert on the federal procedures and the laws surrounding the U.S. Bankruptcy Code, you should hire an attorney's services to file your case. Our bankruptcy lawyer in Grand Haven offers a free consultation to help entrepreneurs, individuals, and businesses learn about their options.

Do I need a bankruptcy lawyer?

While you may be wondering, "If I'm broke, how can I afford a bankruptcy lawyer?" having an attorney may be crucial if your finances are complex or if you have a mortgage, car loan, loans with collateral, etc. Also, if you have secured debt, you need to hire a lawyer to deal with the creditors and to help you enter into a reaffirmation agreement.

Furthermore, filing for bankruptcy is no easy business. You need to be familiar with the laws surrounding bankruptcy, how Chapter 7 and Chapter 13 plans work, and what properties you may exempt from the reach of the court, etc. Even for a basic bankruptcy case, you need to submit detailed information about your expenses, income, property, financial transactions, and creditors, etc., all of which require the knowledge and assistance of an experienced attorney.

To schedule a consultation with our bankruptcy lawyer in Grand Haven, call us today at (616) 607-7522 or visit https://vanderbroeklaw.com/contact-3/. VanderBroek Law is a top-rated attorney firm, and we protect our clients from harassment and help them understand the complex laws surrounding the bankruptcy.

Bankruptcy Lawyer Grand Haven