Legal Counsel to Help Your Somerset Area Bankruptcy Go Smoothly
The decision to file bankruptcy is an important one that calls for careful consideration of all the benefits and obligations that come with it.
There is no substitute for personal, focused legal counsel as you evaluate whether you qualify to file, whether Chapter 7 bankruptcy or Chapter 13 bankruptcy is suited to your situation, and whether you should file as quickly as possible or take more time.
In-Depth Knowledge of Bankruptcy Law and How Best to Protect Your Interests
At The Law Office of Marcus L. Vanover PSC in Somerset, Kentucky, you can consult openly and honestly with a bankruptcy lawyer who knows what questions to ask and will clearly explain bankruptcy mistakes to avoid. A few examples include:
- Running up additional debt for anything other than basic living expenses in the 90 days prior to filing — because this debt could well be excluded from discharge in your case
- Transferring real estate or other property to family members or friends in the effort to protect it from foreclosure, repossession or other creditor actions
- Applying for a second mortgage, line of credit or other type of loan in close proximity to your filing date — which could be viewed as an act of bad faith and cause serious problems including a deficiency that will last well beyond your bankruptcy
A common mistake of a different type is to tap or entirely liquidate assets that could be fully protected in bankruptcy — such as a 401(k) or other qualified retirement plan. While this is a very understandable move for people desperate for funds, it is important to recognize that the U.S. Bankruptcy Code is written so that people do not have to give up critical assets like these.
Call 877-303-9731 for Debt Relief Guidance, Beginning With a Free Consultation
Finally, it is important to recognize that there are many risks associated with choosing to work with for-profit credit counseling and debt consolidation companies in the effort to avoid bankruptcy. The sooner you contact a skilled bankruptcy attorney for counsel, the more effective your bankruptcy may be in giving you the fresh start you need.
The Law Office of Marcus L. Vanover is a debt relief agency. The Law Office of Marcus L. Vanover helps people file for bankruptcy relief under the Bankruptcy Code.
