The decision to file bankruptcy is not an easy one to make. Although it provides a fresh start, it does have a negative impact on credit and affects overall creditworthiness, or ability to qualify for new credit. They also remain on the consumer’s credit report (10 years for chapter 7 and 7 years for chapter 13).
A bankruptcy attorney can advise the consumer on when the best time to file is, whether they qualify for a chapter 7 or need to file a chapter 13, ensure that all requirements are fulfilled so that the bankruptcy will go smoothly, and whether the debtor’s assets will be safe if they file.
The bankruptcy attorneys at Matrix Law understand the intricacies that are involved with the bankruptcy process and know that it can be quite nerve-wracking for their clients.
