The involvement of the court is one of the most intimidating aspects of filing for bankruptcy. Despite bankruptcy court not being anything like criminal court, knowing court officials are involved strikes fear in many people who file.
What should you know about bankruptcy court and what can you do if you’re feeling anxious about the filing process?
Let’s start with understand what bankruptcy is and how it works.
Bankruptcy provides financial relief to those with an unaffordable debt burden. It’s a tool that aids consumers in getting back on track financially. It offers protection from debt collection practices and ensures that creditors receive what they can from struggling debtors.
Filing for bankruptcy eliminates all or a portion of debt with or without repayment of that debt.
When you file for bankruptcy your goal is to get the situation under control and make a fresh financial start. Filing affects your credit score for at least seven years, but it is a better alternative to juggling debt and allowing yourself to sink deeper into financial despair.
For most people, filing for bankruptcy produces favorable results. Still, the idea of filing is intimidating and many people feel embarrassed or ashamed to take the initial step. Working with an experienced bankruptcy attorney who can answer your questions and guide you through the process makes things easier and helps ease your fears.
Specialized district courts established by Congress oversee bankruptcy cases. This ensures the uniform handling of cases according to federal bankruptcy laws.
Bankruptcy appeals cases are heard by a regular district court, an appellate court, or in some cases, a bankruptcy appellate panel. Rarely do bankruptcy cases make it to the US Supreme Court, but in nearly every instance these are corporate or commercial cases. The chances of your bankruptcy case ever making it to the Supreme Court on appeal are slim to none and there’s a good chance you won’t need to appeal at all.
You can learn more about the Federal Rules of Bankruptcy Procedure that govern the filing processhere.
Understand the basics of the bankruptcy filing process is just the beginning. You need to decide whether or not to file, determine if you are eligible for Chapter 7 or Chapter 13, and speak to an attorney who can help you deal with the process of filing. You have the option of representing yourself, but anyone familiar with the bankruptcy process would warn against doing so. Filing for bankruptcy might seem simple when you have the assistance of an expert. But it’s filled with complex legal issues and a lot can go wrong. The investment you make in an attorney ensures your rights and protects your property however possible.
An attorney also serves as an objective third-party to review your case and help you with questions. He or she will be by your side during the court proceedings and can help you feel more confident about your situation.
Deciding whether or not to file for bankruptcy is one of the most important aspects of getting your situation under control. Bankruptcy can provide a great deal of relief for those facing financial struggles. But filing isn’t the best option for everyone. An attorney can help you make the initial decision to file or not to file.
If you’d like more information or you have questions about what goes on in bankruptcy court, contact R. Flay Cabiness, II, P.C. at (912) 554-3774 (Brunswick, GA); (912) 375-5620 (Hazlehurst, GA) or; (912)-554-3756 (Jesup, GA) to schedule a consultation.
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