There is a shocking trend for bankruptcy in America, it is on the rise. Bankruptcy is filed in federal court, not your local state or county court divisions. The Miami area has seen a 36% increase in the number of bankruptcy filings from 2009 to 2010. The courts are also expecting that number to increase for 2011. There is a variety of reasons that one would file for bankruptcy like loss of income for extremely high medical bills. The increase in bankruptcy filings has caused an extreme back log in the court system. The bankruptcy process is in a constant state of change making it difficult to keep up with all of the complex rules and regulations. When filing for bankruptcy one should consult with either a Bankruptcy Law firm or a bankruptcy lawyer.
Given the ongoing, complex and not to mention emotionally stressful nature of filing bankruptcy you may want to consult with a bankruptcy lawyer. A bankruptcy lawyer will be able to assist you with all of the paper work as well as guide you to your desired outcome. A bankruptcy attorney will be able to advise you of the current laws and regulations as well as determine if filing bankruptcy is the best option for you. Additionally there are several types or chapters of bankruptcy that you may file for. Chapter 7 bankruptcy causes a liquidation of assets. Some assets can be protected, a good Bankruptcy lawyer can advise you on which assets may be saved. Chapter 13 bankruptcy involves a debt repayment plan but you are able to keep your assets. Some debts like child support obligations or student loans may not be erased by any type of bankruptcy. Once again a bankruptcy lawyer can help.
There are also many local rules for filing bankruptcy. The majority of the rules are procedural in nature but none the less important. It is important that the hiring of a bankruptcy lawyer be careful researched not just picked from a list of names on a web page of the phone book. Hiring a local bankruptcy law firm or bankruptcy attorney will help ensure that they are up to date on the local rules and regulations. There is also an expense associated with hiring a bankruptcy attorney. The fees for services will vary from lawyer to lawyer and firm to firm. Unlike personal injury lawyers a bankruptcy attorney will require that their fees be paid up front. The bankruptcy lawyer fees do not include the federal mandated filing fees associated with bankruptcy.
Hiring a bankruptcy attorney will not make your problems disappear overnight or vanish into thin air but it will give you sound legal advice that will guide you in the most appropriate direction for you. The practice of law is so very complex that one must first obtain a 4 year college degree, attend law school and pass the respective state or states bar exam. If one would not attempt to practice medicine (which requires extensive education) on themselves why would you practice law on your own?