Choosing An Attorney To Help Your File For Bankruptcy In Nebraska Apr03


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Choosing An Attorney To Help Your File For Bankruptcy In Nebraska

By finding a competent bankruptcy attorney to help you file for Chapter 13 in Omaha, you will be able to face your financial problems rather than avoiding them. This is the first step to finding a permanent solution to your financial future so you can put the past behind you and move on to a new successful life. Deciding whether to file Chapter 13 or Chapter 7 can be a hard decision, so here are a few details about each option. You will want to consult with your attorney about which choice is best for you.

Chapter 7 is the most commonly filed bankruptcy in the United States because it allows debtors to erase much of their unsecured debt. This includes credit cards, energy and doctor bills, and other personal loans. Chapter 7 is filed under the premise of liquidation, meaning that a debtor’s assets are sold to pay off their creditors, then the debts are declared “paid” even if they were not paid in full. Exceptions to the assets sold are usually the primary residence and/or a car on a secured loan. This type of filing is an option for those who have little chance of being able to repay their debt in the long run.

The next type of bankruptcy choice that a Nebraska state citizen may choose to file for is Chapter 13 Omaha. With Chapter 13 bankruptcy, rather than assets being liquidated, the debtor is given a chance to reorganize all debt owed into a new repayment plan. This arrangement can help stop a foreclosure, which is one of the worst parts of financial troubles for many who have fallen on hard times. One advantage of choosing Chapter 13 bankruptcy is that instead of the bankruptcy being on your credit report for 10 years, as it is with Chapter 7, with Chapter 13 in Omaha you will only have the filing listed on your credit report for 7 years, so you can get back into good standing with your creditors faster.

How do you decide if you should file for bankruptcy with Chapter 7 or Chapter 13 in Omaha? Finding an experienced and sensitive attorney is your first step in making the right decision for your situation. By choosing someone who will give you a free initial consultation, you can get an idea of how you should move forward without worrying about needing to pay money up front.

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