Why You Should Hire a Bankruptcy Attorney in Dayton Ohio

People that have huge debts file for bankruptcy as a great way of having a fresh start financially. If you have been having a tough time financially and owe more than you can possibly pay back, consider filing for bankruptcy is a great idea. However, to make a successful filing, you will need the help of a Bankruptcy Attorney in Dayton Ohio. Here are a few things you ought to know about the process of hiring a bankruptcy attorney.

Determining if you qualify

The federal government has put in place very stringent rules to follow when filing for bankruptcy. This is a move to prevent people from trying to use the law to commit fraud. Therefore, to avoid getting a rejection or getting into legal trouble, there are certain requirements that you will have to fulfill. Here are a few of them:

* Your income must be equal to or less than the medium income for your state.

* You must have evidence that it is not possible to pay a quarter of your debt in a period of 60 months.

* You are not supposed to have filed for another bankruptcy for a period of 18 months prior to the current filing.

* You must show a willingness to participate in a debt counseling session.

* You must not hide any of your property from the federal government by shipping it off to relatives.

* All the information that you give in the file forms must be accurate.

These are just a few of the requirements that you will have to meet to qualify for bankruptcy.

The process

When you fill in the forms, you will have to give information such as all your assets and their worth, all your creditors and how much you owe them and other financial details. If the plea is accepted, the court will put stay on your property, preventing creditors from suing you or using other methods to get their money back. The hearings will then start.

These are the things you should know about getting a Bankruptcy Attorney in Dayton Ohio.