Bankruptcy filing is a complex matter. It is not complex in United States in view of well-defined legislature in the form of federal Bankruptcy Code, but complexity arise due to implementation of appropriate Chapter under this code. The very purpose of bankruptcy filing is to get relief and to get safety from the action of debtors and this is possible when appropriate legal remedy is instituted which is not feasible without support of a legal expert like a San Diego bankruptcy attorney.
Availing benefits of Chapter 7 filing
Let’s discuss filing under Chapter 7 of Bankruptcy Code. Chapter 7, often referred to as “straight bankruptcy”, is a most usual type of bankruptcy in the United States and it has wide applicability for individuals, couples, or companies in critical monetary crisis. This Chapter allows both an individual and entity to file bankruptcy petition in the court of law in an appropriate state in United States. Filing under this Chapter would mean that a constructive measure toward reinstating financial independence has been taken. The objective of filing under this Chapter is to get a time for new financial start, while maintaining possession of property and belongings during period of insolvency. So, a fresh start can be used to pay off debts from future profits when debts issues are resolved. But a support of a competent attorney like bankruptcy attorney San Diego would be needed to proceed for legal remedy.
What should you do?
You can enjoy legal privileges, if you hire an expert attorney and it could be an independent attorney or a law firm. The latter is probably a good option because a law firm has pooling of knowledge of experts in various fields of legal nature. Thus, your problem can be dealt in a better way, but when you avail service of a top law firm like BLC Law Center Bankruptcy attorneys for your bankruptcy filing under Chapter 7.