For a homeowner struggling with finances, one option that they might decide on is filing for bankruptcy as a last resort. There are two types namely chapter seven and chapter thirteen. Chapter Seven is the most common form of bankruptcy. This allows debtors to erase all debts owed and puts a halt to repossession, harassment, and garnishment.

Chapter Thirteen basically is for people with regular income that want to stretch out their debt payments to three to five years. The debtor will be able to choose which items to keep while negotiating with the creditor to accept a lower cost on the other items.

A bankruptcy lawyer is someone who specializes and dedicates most of his/her practice into bankruptcy law. They will provide legal advice as well as help you prepare the necessary documents and represent you at all court hearings. You don’t have to worry because you can even find a bankruptcy lawyer in San Diego. And they are more qualified to handle your case rather than regular attorneys.

So, when do you need a bankruptcy lawyer:

• Large Consumer Debt
  If you have a large credit card debt, struggling to make loan payments, piling medical bills or income reduction, filing Chapter Seven bankruptcy might be an option for you. This will help you take control of your finances and allows full discharge of these debts.

• Foreclosure
  Filing a Chapter Thirteen bankruptcy can be for those with a steady income who want to continue paying the mortgage to keep their home. While Chapter Seven is for those that want to stop a foreclosure or pending sale, so they will have more time to come up with a solution.

• Losing Your Job
  If you’ve recently lost your job or are not making as much money as before, filing a Chapter Thirteen bankruptcy may help you delay some payments.