For many people, the idea of filing for bankruptcy protection is seen as the last resort. This measure is only employed after trying everything else and finding that those methods did not make it possible to regain control of personal finances. While it may be embarrassing, it is important to discuss every aspect of finances with the Bankruptcy Lawyer Piqua OH who is handling the case.
Information About Income
Along with providing all the details about current debts, it is important to reveal all income sources to the Bankruptcy Lawyer Piqua OH. Doing so makes it much easier to build a case that demonstrates to the court that the client really does meet the criteria for receiving bankruptcy protection. Since the court will appoint a trustee to conduct an investigation prior to approving the bankruptcy petition, it makes sense to provide complete details up front.
Details About Assets
With a Chapter 7 bankruptcy action, many of the assets held by the debtor will be considered exempt from sale. Other assets could very well be sold under the care of the trustee, and the funds from the sale disbursed to partially settle the balances owed by the debtor. Attempting to hide assets will lead to serious issues when the trustee discovers them. In fact, the result could be rejecting the petition and leaving the debtor to the tender mercies of his or her creditors.
The ultimate goal of bankruptcy is to help the debtor move past financial difficulties and have the chance to enjoy a fresh start. The attorneys with Shipman Dixon & Livingston Co. L.P.A. understand that some issues surrounding current debts can be personally embarrassing. To this end, the attorney who takes on the case will take every step possible to make sure that information is only revealed on a need to know basis.
Clients must realize that attorneys hold all information supplied by a client in the strictest of confidence. That data is only used in order to secure the type of financial relief that the debtor seeks. Even then, that information must be revealed in accordance with current laws and the practices of the bankruptcy court. When it is all said and done, only the necessary court officials, the attorney, and the debtor will know all there is to know about those personal circumstances. Visit Sdlattorneys.com for more information.
