While there are a lot of advertisements for bankruptcy protection, not many people truly know what takes place or what their rights are. There are a lot of television commercials and billboard advertisements that show that you can simply walk away from your debts and from your worries. But as everyone knows, if it sounds too good to be true then it probably is. Even though personal bankruptcy is ideal for some people, there are still many things that need to be understood in order to make sure that a person is really making the right decision for their financial situation.
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The first thing to remember is that you should always retain an experienced personal bankruptcy lawyer so that your case goes through without a lot of problems. It is vital to make sure that your case is presented to the court that handles your specific financial situation in the right manner. If the case is not presented in the right light your bankruptcy request could be denied and the money you spent filing is wasted. Once the court approves it, you are now under the protection of the bankruptcy laws.
The bankruptcy protection laws are meant to protect the person filing so that they are not harassed, sued, or in any way asked for money. In the beginning stages, until the bankruptcy is discharged the creditors are not allowed to call or collect on the debt they with the person, even if it is a case of Chapter 13. There are laws in place that state that a person who filed a personal bankruptcy is not allowed to receive phone calls asking for money or have legal action, such as law suits or judgments, filed against them.
All collection efforts must cease until the bankruptcy courts say that it is okay to resume. This could be a few months from the date of filing to a couple of years. Every situation is different so there is not a clear-cut answer for how long a person will have the protection around them. The various factors include the bankruptcy chapter filed, the state in which the filing is done, the disputes of creditors and other issues that could arise.
The best thing to do when thinking about filing is to have a free consultation with a personal bankruptcy lawyer. He or she will be able to walk you through the steps. After the attorney reviews your bills and your debt, they can give a rough estimate of the timeline you will be looking at. Other services they would provide should not be dismissed, such as advising what options you may have, and steps you may want to consider taking if you do indeed decide to file.
By understanding what to expect, you can better protect yourself and understand what you will be facing. Also make sure that you learn how the laws are in your favor and what you can do if you continue to receive harassment from a creditor after they have been notified that you have filed personal bankruptcy. The laws of bankruptcy protection are there for you to make sue of so make sure that you know what your rights are.
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