The U.S. Bankruptcy Code specifies the procedures for handling all bankruptcy matters in federal courts. By selling assets to pay debts or by coming up with a repayment plan, bankruptcy enables those who are unable to pay their bills to start again. It is strongly advised that you get legal counsel since bankruptcy has long-term financial and legal repercussions. Pro SE filing refers to a bankruptcy petition submitted by a person without legal representation.
Each of the 94 federal judicial districts has jurisdiction over bankruptcy proceedings, and bankruptcy cases are filed in the bankruptcy court in practically every district.
By selling up their possessions to pay off their obligations or by coming up with a repayment plan, those who are unable to pay their creditors can receive a fresh start thanks to bankruptcy rules.
Declaring bankruptcy may be the best option if you have a lot of debt that you can't pay off, are behind on your mortgage payments and at risk of losing your home, are receiving harassment from bill collectors, or have any combination of the above.
According to a report, the top justification for declaring bankruptcy is loss of income as stated by approximately 78% of survey participants. Given that the majority of us depend on our income from work to pay our bills, this shouldn't come as a surprise.
We always recommend filing for bankruptcy with an expert lawyer by your side, since this is a complex process and it requires a lot of knowledge in this scope. Call us at 844-546-7300 or email us today and we’ll get your case in court with a $0 Up-front fee!