Here in the United States, getting into debt is far from an uncommon situation for individual people and businesses alike. After all, life has become more expensive than ever before, and the costs associated can accrue quite quickly. From credit card debt to student loan debt to medical debt, debt on the individual scale is very much on the rise here in the United States, and it is not something that will be easily avoided by any means for those who have accrued it. Getting out of debt can be even more difficult, and can sometimes require a person – or a place of business, as the case may be – to file for bankruptcy.
In fact, bankruptcy surrounding those with medical debt in and of itself is incredibly prominent here in the United States. It has even been estimated that as many as two million people had to file for bankruptcy because of various medical bills in the year of 2013 alone – and that is just looking at data for this one country alone. For those without health insurance, medical costs can be simply astronomical and it is really no surprise that so many people struggle so much to pay them off. For many, filing for bankruptcy becomes one of the only ways that they can find debt relief.
Of course, other types of bankruptcy are commonplace as well, particularly over the course of recent years passed. For instance, data has shown that in that same year of 2013, more than 300,000 people filed for Chapter 13 bankruptcies. An additional 8,980 Chapter 11 bankruptcies were filed over the same course of time in the United States. And even aside from these types of bankruptcies, there are many more out there.
The world of filing for bankruptcy can be a very confusing one, especially for someone who has never had any type of experience in it before. For instance, many questions are likely to arise surrounding the process of filing for bankruptcy as well as the outcome. While a Chapter 7 bankruptcy might take around six months to complete (on average), other types of bankruptcies can take much longer and involve a much more extensive process. Separating all of this information can understandably prove confusing and overwhelming for the average person who is looking to begin such a process to hopefully be able to find some level of debt relief either in their personal lives or for their business (or even, in some cases, for both).
Fortunately, the bankruptcy lawyer (working for a bankruptcy law firm) is relatively commonly found here in the United States, and it is more likely than not that you’ll be able to find a bankruptcy lawyer or bankruptcy attorney wherever you might live in this country. The average bankruptcy lawyer – at least one who has a good deal of experience – will be able to guide you through the process of filing for bankruptcy, something that can certainly prove complicated for a non professional in the field. A bankruptcy lawyer can answer all of your questions and can set you on the right path and a bankruptcy lawyer can even provide some level of emotional support as well. After all, the typical bankruptcy lawyer is very likely to understand that the process of filing for bankruptcy can be an emotionally fraught one, and that this high level of emotional intensity can even begin to cloud your judgment and overall decision making abilities.
For many people, the process of filing for bankruptcy would not be possible without the help of a bankruptcy lawyer, but it is hugely important to choose the right one. After all, not every bankruptcy lawyer operates in the same way, especially when it comes to pricing and cost. A low cost bankruptcy attorney is possible to find in most parts of the country, but it’s likely that you’ll have to do at least a little bit of searching to find one. And some bankruptcy lawyers will charge a normal price, but have a payment plan for those who are not able to pay off the full cost of the services.