Starting Fresh: The Benefits of Chapter 7 Bankruptcy in Topeka, KS

With middle-class wages at all time lows and an economy that has failed to effectively recover from 2008’s housing bubble, many Americans are dealing with dire financial times. Although many people get second jobs for some extra income, sometimes getting ahead seems impossible. If you haven’t established a reasonable budget, sound debt management practices, and the ability to live within your means, it won’t be long before you have to face the prospect of bankruptcy.

If you are considering chapter 7 bankruptcy in Topeka, KS, please continue reading to obtain a better understanding of your options moving forward.

What Is Bankruptcy and Is It Avoidable?

Bankruptcy is essentially a process that allows people to repay some or all of their debts under the protection of the federal bankruptcy court. The two primary types are chapter 7 bankruptcy and the chapter 13 variant. The chapter 7 protocols state that the debtor will have to liquidate most of their assets in order to repay the debt, whereas chapter 13 bankruptcies allow borrowers to keep their assets as long as they adhere to a structured repayment schedule.

If you want to avoid chapter 7 bankruptcy (and chapter 13 as well), it’s important to speak to a professional bankruptcy attorney. In many cases, bankruptcy is actually unnecessary, and it can be sidestepped altogether. A reputable lawyer will help you reorganize your finances, teach you how to effectively stick to a budget, and assist you with the mandatory court hearings, paperwork, and financial requirements.

Finding the Best Local Attorney

If you’re in the grips of a dire financial situation, it’s important to make the right legal decision. With some help from a reputable bankruptcy attorney, you’ll be able to take the necessary steps to obtain peace of mind and mitigate the fallout from a potential bankruptcy situation. To get started on your research, you should visit John Hooge Law Office for more information. You can also visit their website to look at fields of specialization, client reviews, and other important details. This will allow you to obtain a comfort level with the subject matter, which will ultimately help with your hiring decision.

This isn’t the time for a DIY project or self-representation. Instead, you should find the best bankruptcy attorney in your area as soon as possible.

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