There are many things that can lead to a person being completely unable to pay their own debts. If you have reached a state whereby you have more debt than you can handle, the law allows you to file for bankruptcy. This is seen as some sort of fresh start when it comes to management of finances. To file for a bankruptcy successfully, you may need the help of a good lawyer. Here are some of the most important things to know about the process of hiring a Bankruptcy Attorney in Hutchinson KS.
The needed paperwork
The first step that is involved in the process of filing is filling in the petition forms. In the forms, you will have to give important details such as:
1. Your disposable income
2. The number of people that you owe money and the amount of money that you owe each of them
3. All the assets that you own
When filling these forms it is important to be as truthful as possible. Any attempt to falsify information is seen as an attempt to commit fraud and might get you into some legal trouble.
One shouldn’t file for chapter 7 if:
1. Their median income is above the state average.
2. They have enough disposable income to pay at least ¼ of the debts within a period of 60 months.
3. They have filed for another bankruptcy within a period of 180 days.
4. They have decided to hide some assets from the government.
All these are things that will make the process of filing for bankruptcy difficult and even get the petition rejected.
To qualify, you need the guidance of a competent lawyer. They will help you ensure that your forms do not have any contradictory or incomplete information. They will also assist you in ensuring that all the information that is given proves that you do not have other financial options besides filing for chapter 7.
These are the important things to know about getting a Bankruptcy Attorney in Hutchinson KS. Oswalt, Henry, Oswald & Roberts Association of Individual Practitioners is one place where you will get lawyers to assist you with bankruptcy cases, personal injury law, criminal and family law.