When experiencing financial difficulty in life at any time, this will create a great deal of stress. The current economy and the severe cold winter have contributed to the decrease of jobs. Loss of work will quickly translate to financial difficulties, and this may be the time to consider filing for Chapter 7 bankruptcy.
Different types of bankruptcy are offered to an individual or business in need of financial support. Bankruptcy is a legal status which will allow the applicant relief from debt, in some instances. This is a complex procedure that requires the expertise offered by a bankruptcy lawyer Tipp City OH.
How to Apply for Chapter 7 Bankruptcy
Chapter 7 is a bankruptcy that is designed for individuals. It is necessary for the application to meet certain requirements to be considered for this status. One of the things that must be completed by the applicant is the amount of money, he or she makes within a set timeframe. Proof of this amount will be required and may be submitted in the form of past pay stubs.
It is required for the debt that is owed to each creditor to be revealed. Debt owed to each creditor must be listed individually, with the name of the company and the amount of debt.
The last requirement for this bankruptcy involves the monthly expenses for a person. This should include rent, food and clothing cost for a month.
Filing the Bankruptcy
By relying on the support of legal expertise all of the filing, can be completed by your bankruptcy attorney Tipp City OH area. This will allow the person filing the bankruptcy to avoid a number of complications that may arise during this process.
The legal papers must be filed with the court to achieve the status of bankruptcy. If the court approves of the application, the bankruptcy will be allowed and will relieve the person of all debt.
Finally, consider the expert services that are provided by Shipman Dixon & Livingston to help in obtaining the eligibility of bankruptcy. The reduction of stress alone is worth the effort in achieving this legal status.
