The word bankruptcy brings shivers to many upon pondering on the matter. Filing for bankruptcy has a silver lining, and one stands a better chance by hiring a bankruptcy attorney. Every day the costs of living are becoming higher and higher. The gap between the rich and the poor keeps on increasing. Many households are struggling to put all three meals on the table. Families now prefer to do home-schooling to cut the costs when it comes to fees and transport money.
Suppose you are thinking of filing for bankruptcy. You will need an explanation of bankruptcy in detail. After success, you can always check bankruptcy filings through the state. One can also declare bankruptcy without a lawyer if the state allows it. Some bankruptcy cases may favor you, and some may not. Especially in bankruptcy cases where you are the creditor, wiping out credit will make you go on a loss. A debtor in bankruptcy case owns money. Debtors are mostly favoured if a bankruptcy case is successful.
The silver lining about filing for bankruptcy depends on the type of bankruptcy one wants. Waiving off any loans and credits gives one peace of mind. Also, with the waiver, you can be able to start afresh.
The American legal system is a vast and complex field, with several branches dedicated to unique charges, proceeds and issues that occur every day. A legal team works better by focusing on a specific issue to better give it their full attention and see it solved as soon as possible, which can be difficult in a saturated market with high demand. Every day Americans find themselves turning to the skill set of a legal team to help them overcome obstacles such as bankruptcy or personal injury claims, though knowing which lawyer to talk to can be difficult without prior knowledge. If you find yourself in need of legal advice or are attempting to file a claim, seeking out the knowledge of specialty lawyers should be first on your priority list.
Personal Injury And Civil Lawsuits
One of the most common reasons Americans seek out a legal team are due to personal injury lawsuits, usually occurring in the workplace. Workers reported over three million occupational illnesses and injuries in the year 2013, with the annual cost of civil lawsuits costing the American economy nearly $240 billion. Although many personal injury tort cases are filed every day, it’s estimated only 2% of them actually go to trial due to the majority being processed outside of the courtroom. When it comes to statistics, 20% of federal civil personal injury lawsuits are due to vehicle crashes, with a significant portion resulting from medical malpractice and product injuries. Accident claims lawyers and personal injury lawyers work specialize in this field and should be sought out accordingly.
Bankruptcy Filings
Bankruptcy is one of the most common problems hindering modern Americans. Although businesses a few decades back comprised a noticeable margin of total bankruptcies filed, recent years have only seen them accounting for 3% on average. Student loans account for at least 1% of all bankruptcies filed, with medical expenses and job loss comprising the majority. A bankruptcy attorney can see the success rate for a Chapter 7 bankruptcy over 95%, although bankruptcy filers need to pay a filing fee. This can be around $335 and is necessary to cover processing and analyzing costs.
Credit Card And Student Loan Debt
Debt comes in many different forms. It’s been found that the average American home has 13 unique payment cards, with the typical credit card purchase 112% compared to using basic cash. Only one in four Americans have enough money in their savings account to to cover six months or more in expenses in light of an emergency, meaning the majority of the country live paycheck-to-paycheck. Due to the prevalence of unstable income, bankruptcy and lawsuits can occur when people have very little resources to turn to. A legal team can assist with everything from filings to fees.
Seeking Out A Legal Team
If you need to file for a bankruptcy or suspect you might be the victim of a personal occupational injury, a legal team should be the first step on your way to get your life back on track. Some firms offer free consultations that can oversee your situation, offer resources and analyze your budget. This should not be considered final advice, however, and the experience of an official attorney should still accompany you whether you’re attending a courtroom or simply sending off paperwork. If you or someone you know is in need of legal advice and isn’t sure where to start, seek out your local legal firm and request the advice of their legal team.
