Why Hire a Vancouver Bankruptcy Attorney to Protect Your Assets? In this economic climate, it is not unusual to get a financial bind. Loss of income, declining home values, too much debt, business problems, raising a family, medical bills are all reasons why people get in way over their heads. It is not your fault if this happens to you. If your hole is so deep that you can't get out, consider consulting a Vancouver Bankruptcy Attorney for a consultation.
Chapter 7 offers you a fresh start by wiping out your debts such as credit cards, car loans, and mortgages. If you intend to include your car in the bankruptcy, you have to give the car back. Chapter 13 restructures your debts so you can pay them off in 5 years. Certain items can't be included in a bankruptcy. You cannot include Federal Tax to the IRS and student loans. If you plan to include your home in the bankruptcy, you will not be able to keep the home. It is possible to file bankruptcy yourself, but it is tricky. Your interests are best served by hiring an experienced Vancouver Bankruptcy Attorney to protect your assets. You can keep your home and car if you plan to continue paying for them. You can keep your 401K, IRA, and retirement. When you file bankruptcy an "automatic stay" is put on your debts. Creditors cannot call you or contact you in any way. They must contact your attorney. After your attorney files your petition in court, you will have a meeting with your creditors in bankruptcy court. Your attorney will be with you at this meeting. A trustee of the court will be in the room, and the creditors are welcome to attend. They rarely do attend. The trustee will swear you in, ask you about 10 questions to verify that you are who you say you are and these are indeed your debts. If there is no dispute, you will get a discharge letter in about 60 days. These debts are dismissed and you can move on with your life.