Bankruptcy Attorneys Are the Most Important Part of the ProcessDid you know that in 2011, there were over 56,000 bankruptcy filings in the state of Michigan alone? Almost all of those filings (84%) were Chapter 7 bankruptcy filings, which is the most common kind of bankruptcy in America.

Chapter 7 bankruptcy is commonly known as liquidation bankruptcy. According to the Nolo Legal Encyclopedia, during this kind of bankruptcy, the bankruptcy trustee cancels many (or potentially all) of your debts, while at the same time it might also sell (i.e. liquidate) some of your property, in order to pay off creditors. Additionally, civil judgments, wage garnishments, and liens are all generally stopped when you file for bankruptcy.

The most important part of filing for bankruptcy may well be your bankruptcy attorney. They will advise you on whether or not bankruptcy is the right option for you, assist you with the proceedings, and help you move on with your life everything is said and done. Figuratively speaking, bankruptcy attorneys help people cross the road without getting hit by a bus.

Bankruptcy can be a hard decision to come to, but don’t let fear and trepidation stop you. Bankruptcy attorneys help people not because they’re broke, but because they want their finances to get better, because they want their lives to be better.

Debt happens – almost half (43%) of American families have to spend more than they earn each year. Why, even the Pittsburgh Penguins filed for bankruptcy. In fact, they’re the only sports franchise to file for bankruptcy twice, in 1975 and in 1998.

Chapter 7 bankruptcy has many important benefits that can help alleviate financial problems. The most important part of the filing process is to hire a good bankruptcy attorney, who will fully prepare you for the process. If you have any questions, feel fee to ask in the comments!