Bankruptcy

A Bankruptcy Lawyer Tupelo, MS Residents Can Benefit from

Many consumers are faced with financial hardships that may cause them to file for bankruptcy. The decision to file for bankruptcy is an important one and should be done after the proper research is done. A bankruptcy lawyer in Tupelo, MS people understand the filing process.

If you are planning to file bankruptcy, then you are going to need a copy of your credit reports. There are three major credit reporting agencies, which are TransUnion, Experian and Equifax. You will need a copy from each credit union. Obtaining your credit account gives a better idea of your credit accounts. This allows for including all debt obligations when filing bankruptcy paperwork.

The U.S. Courts Bankruptcy Basics site provides a lot of information on this subject. It helps to visit this website and read the information on chapter 13 and chapter 7. Understanding the process helps with discussing the case with your bankruptcy attorney.

It is not required to hire a lawyer when filing this type of case, but highly recommended. You want to look for a lawyer in your local area. The bankruptcy process can be complex and helps to work with a knowledgeable legal professional. There are different places to search for legal help, such as the yellow pages, local newspapers, and lawyer directories.

After finding the right attorney, you want to call and explain your case. It helps to prepare for the initial conversation in advance. You should have your credit reports ready and notify the attorney that you read up on chapter 13 and chapter 7 bankruptcies. At the end of the conversation, you should have an appointment for a meeting.

The initial meeting may consist of discussing your current financial situation and making the decision to file for bankruptcy. The lawyer will also help with completing a Means test. A Means test is done for determining if an individual qualifies for chapter 13 or chapter 7 bankruptcy.

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