Debt Relief Agency
If you have debts which you cannot pay back due to
shortage of cash, a debt relief agency provides you
quick solutions by looking after your financial
problems. A debt relief agency can be a company or a
person who offers assistance during bankruptcy. An
agency consists of attorneys who deal with the problems
of the debtors and negotiate with the creditors on their
behalf.
Bankruptcy encompasses all your debts including
loans, credit card bills, medical bills, taxes, rents
and mortgages. A debt relief agency provides
compensation during bankruptcy pays off all your debts
and saves you from such a financial blunder.
Debt relief agencies are powerful enough to deal with
all your creditors. Sometimes the creditors do not
listen to debt management companies and counseling
services and dismiss them without hearing their petition
on your behalf. But they cannot dismiss the petition
prepared by your debt relief agency so easily.
To utilize the services of a debt relief agency you
are required to do the following things:
" Provide a bankruptcy petition with accurate
and truthful financial statement. Any discrepancies
might land you in trouble and you might not get any
further assistance from the debt relief
agency.
" Disclose all assets and liabilities,
completely and accurately, for the verification o the
debt relief agency. Clearly state the replacement value
of each of those assets.
" Mention your current
monthly income and provide a true document to prove
this.
" The debt relief agency has the authority
to audit the information supplied by the debtor. If you
are unable to provide any required information your case
might be dismissed.
In case of bankruptcy you can represent yourself
without hiring an attorney from a debt relief agency.
You can also ask for assistance from any local
bankruptcy petition provider who is not an attorney. The
court asks for an attorney or a petition preparer to
give you a written contract specifying what the agency
will do for you. The contract will also mention the cost
of hiring an attorney or a petitioner.
The debtor should check the hiring charge before
getting into the contract. He should try to find such a
debt relief agency which charges an affordable amount of
money according to the debtor's suitability.
With the help of the debt relief agency you should
find out your eligibility for different forms of debt
relief offered under the Bankruptcy Code. You should
select the offer which is most beneficial to you. You
should understand the terms and conditions of the relief
clearly and also know its limitations.
A debt relief agency requires the following documents
to be submitted by the debtor before his case is taken
up. These are submitted to the bankruptcy
court.
" The petition
" Authentic
statements of financial affairs
" Statement of
intention
" Filing fee for the bankruptcy
court
A debt relief agency generally does not fail to
provide the promised services to the debtor in a
bankruptcy case. They do not allow the debtors to make
any misleading statement in the documents filed for
bankruptcy. They do not indulge in such malpractices as
it would harm their reputation and would push the debtor
into problematic situations. The agencies always suggest
the debtors not to incur more debts. If you wish to hire
a debt relief agency or know more about them, simply
fill in the form given below.
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