A Cheap Bankruptcy Attorney In Puyallup Wa can explain the difference between luxury products and services and needs in the eyes of the law. The bankruptcy system is supposed to treat all creditors alike. If a creditor received all the money owed from the client right before bankruptcy and no one else did, then that creditor would receive a “preference” over the other creditors and the system does not allow that.
The judge may cancel the payment and try to recover the money so that the funds can be distributed among the creditors according to the rules of the bankruptcy.
Why bankruptcy?
In a current economy that has shown marked fluctuations, there has been a lot of bankruptcy issues resulting from certain uncontrollable factors. Bankruptcy occurs especially when a person is in a debt crisis, meaning he or she has taken credit from the creditors, but they are unable to pay back those debts. These can result from credit cards, medical expenses, wage garnishments, lawsuits, lapse of licenses, divorce, and many other reasons. The US Bankruptcy Code establishes certain provisions protecting the interests of debtors in emergency situations.
What lawyers do
Bankruptcy lawyers are well versed with every statute relating to the different chapters of bankruptcy. First, bankruptcy lawyers value their time and that of their clients; they not only offer a free consultation but also take sufficient time to ensure that clients are optimistic about filing for bankruptcy. A Cheap Bankruptcy Attorney In Puyallup Wa has clarity in the advice they offer, which they communicate to their clients in case bankruptcy is not the best option.
Bankruptcy lawyers have a very lucid way of evaluating the bankruptcy requirements of each client. Most lawyers use questionnaires that not only consist of comprehension questions but are also exhaustive in nature. These questionnaires will allow lawyers to get a clear picture of the client’s debt situation, considering their latest financial credentials and credit history.
This also helps lawyers gain a vivid idea of the chain of events that led to their client’s financial crisis. Such proper evaluation helps the attorney file the right paperwork, thus, ensuring their client gets a fair shake.
