It is never an easy decision for an individual or a business organization to file for a bankruptcy. There is a considerable amount of risk is involved which can proved to be absolutely devastating for the company and its image in the long run. Professional help in these matters is of utmost importance and is a must have. It is such a major decision that every step must be well calculated and thought-out. That is why you should consult our bankruptcy lawyer San Antonio before taking any decision. The bankruptcy lawyer can answer your questions before you decide to file a case.
It is always good to learn about various options that are available to you before you proceed forward. This greatly diminishes all the risk factors involved in the filling of bankruptcy plus by consulting a professional firm a lot of pressure is relived from the minds of decision makers. By consulting our bankruptcy lawyer San Antonio you get an idea what to expect once you begin filing for bankruptcy. Here are a few important things that you must keep in mind before you file for bankruptcy.
Cost for filling Bankruptcy:
When filing for bankruptcy most of the people are surprised to know that this process is not free of cost. Hiring a bankruptcy lawyer San Antonio is one of the major cost of filing for bankruptcy. We all know that most of the lawyer’s bill per hour, which means that if your case is complex enough then the total cost may add-up. In most of the cases, you have to pay the attorney fee and court costs as well.Your credit score can have the most negative impact due to bankruptcy. This can affect your ability to take loans. You must keep this in mind if you are planning to buy a home or kick start your new business for the next 10 years.
Bankruptcy Filling Cost
The filing for bankruptcy has some of the cost associated with and a deep and trough understanding of it is essential. We are here to help you in understanding this.
- mandatory pre-filing credit counseling
- mandatory debt management
- Counselling advice in helping your decision to file the case or not to file it.
- Preparing the necessary documents, making the appropriate number of copies for the record and presenting them in a proper sequence.
- Other essential court procedure required by law.
Debts don’t go away
There is no doubt that filing for bankruptcy can definitely be a right decision to take in most of the cases. However, it is completely a myth that all your debts and obligation will vanish away. There are certain cases when your debt will not be discharged when you are filing for bankruptcy. Some of them are:
- Child support.
- Student loans.
- Real estate.
- Luxury items.
Before the completion of the bankruptcy process, you will also need to attend the meeting of creditors. The mortgagees will have one last opportunity to dispute the discharge of any liability that you still owe them.