Time is very unpredictable in our life. It can be so good sometimes that you feel like you are on cloud 9, and sometimes it can be as treacherous as a wild beast that might slaughter you like a merciless butcher. For example, today you own a huge property or an estate that worth millions of dollar or pound. But when your fate gives a nasty laugh, it may cost your materialistic investments real bad and you can be penniless. It can be so tough sometimes that you may not have a single shilling in your pocket to pay the loan that you took for building your huge property. Creditors may come knocking your door. The trauma to pay your creditors back may even give you nightmare. Precisely such happens once you are bankrupt. Often people freak out during such situations. It’s like you have fallen in a deep water and you are totally drowned and have nothing to cling on to come up from the water. Things like these are common for the people of United States. That is why often they seek a lawyer to save them from such financial crisis.

You may have sufficient knowledge of bankruptcy law, but it is safe for you to appoint an attorney because during such extreme situation only a professional attorney is your best mentor after all. Before appointing a bankruptcy attorney you need to be definite on certain factors. Check whether the person is expertise in bankruptcy law or not. Because appointing a good attorney is very important for you to cut yourself loose from such trouble you are wired in. If you are mistaken in choosing an experienced but an unprofessional lawyer it can ruin you within moment before the case proceeds to the final hearing. Above all, the bankruptcy law varies from state to state. If you are on Long Island, the Long Island bankruptcy law is something that will differ from the law prevailing in Ohio or in Connecticut. Often people commit mistakes in choosing a right lawyer. That is why they choose a lawyer from a different state to fight a case that is associated with Long Island bankruptcy law. That leads to the complete wastage of time and dollars. Remember to appoint the bankruptcy attorney from that particular state of United States which deals with the legal proceedings of the case associated with the bankruptcy law of that particular state.

An attorney who is dealing with such case proceedings must be thorough with the chapter 7, chapter 11, chapter 13 and chapter 17 etc. then only the attorney can easily interpret the situation from a debtor’s perspective. In the United States of America, straight bankruptcy or wage earner bankruptcy is the most commonly seen bankruptcy cases. They come under the chapter 7 and chapter 13 bankruptcy laws.

Under the chapter 7 bankruptcy law, a portion of the debtor’s property is being taken by a trustee, who settles the major portion of the debt by selling it off, and the minimal left over can be taken by the debtor. Whereas the other one deals with chapter 13, in which a situation comes where most of the creditors might get a legal notice from the State Federal Court, where they can claim anything from the debtor’s property. However, the legal proceedings in a case that comes under chapter 13 provide a debtor to reclaim his debts, only when he can produce sufficiently good financial standpoint in court to claim back the responsibilities of his debt.

While you are bankrupt, only a professional and experienced attorney specialized in chapter 7 and chapter 13 of a bankruptcy law will be able to help you out from your huge debts that your creditors are going to settle for you. That is why choose your attorney well before you go to your court for settling your debts.

Author's Bio: 

The writer of this article is Mr. Laxmon Gope, who was heavily indebted to his creditors. It was an attorney specialized in chapter 13 of Long Island bankruptcy law helped him to repay his debts slowly to his creditors after gaining his financial standpoint.