Best Bankruptcy & Debt Lawyers in Usa

About Bankruptcy & Debt Law in Usa, Japan:

Bankruptcy and debt laws in the United States and Japan are designed to help individuals and businesses navigate financial difficulties. Bankruptcy laws provide relief for those who are unable to pay their debts, while debt laws regulate how creditors can collect debts from debtors.

Why You May Need a Lawyer:

You may need a lawyer for guidance and representation in bankruptcy and debt cases such as Chapter 7 or Chapter 13 bankruptcy, debt settlement negotiations, creditor harassment, foreclosure defense, and credit card debt relief.

Local Laws Overview:

In the United States, bankruptcy laws are primarily governed by federal law under the U.S. Bankruptcy Code. The most common types of bankruptcy for individuals are Chapter 7 and Chapter 13. In Japan, bankruptcy proceedings are governed by the Civil Rehabilitation Law and the Corporate Rehabilitation Law.

Frequently Asked Questions:

1. What is bankruptcy?

Bankruptcy is a legal process that allows individuals or businesses to eliminate or repay their debts under the protection of the bankruptcy court.

2. What is Chapter 7 bankruptcy?

Chapter 7 bankruptcy, also known as liquidation bankruptcy, allows individuals to eliminate most of their unsecured debts, such as credit card debts and medical bills.

3. What is Chapter 13 bankruptcy?

Chapter 13 bankruptcy, also known as reorganization bankruptcy, allows individuals to restructure their debts and create a repayment plan over three to five years.

4. How does bankruptcy affect my credit score?

Bankruptcy may negatively impact your credit score in the short term, but it can help you rebuild your credit over time by eliminating or reducing your debts.

5. Can I stop creditor harassment with bankruptcy?

Yes, filing for bankruptcy triggers an automatic stay that prohibits creditors from contacting you or taking any further collection actions against you.

6. How can a lawyer help with debt settlement negotiations?

A lawyer can negotiate with creditors on your behalf to settle your debts for less than what you owe, helping you avoid bankruptcy and protect your assets.

7. What are the alternatives to bankruptcy?

Alternatives to bankruptcy include debt consolidation, debt settlement, credit counseling, and negotiating directly with creditors for a lower payment plan.

8. What is the statute of limitations on debt collection in the United States and Japan?

The statute of limitations on debt collection varies by state in the United States and by type of debt in Japan. It typically ranges from three to ten years.

9. Can I keep my assets in bankruptcy?

Depending on the type of bankruptcy and the exemptions available in your state or country, you may be able to keep certain assets such as your home, car, and retirement accounts.

10. How can I find a reputable bankruptcy and debt lawyer?

You can find a reputable bankruptcy and debt lawyer by asking for referrals from friends or family, researching online reviews, and scheduling consultations with potential attorneys to discuss your case.

Additional Resources:

Some resources for individuals seeking legal advice on bankruptcy and debt in the United States include the American Bar Association, National Association of Consumer Bankruptcy Attorneys, and local legal aid clinics. In Japan, resources include the Japan Federation of Bar Associations and the Japan Legal Support Center.

Next Steps:

If you are facing overwhelming debt or considering bankruptcy in the United States or Japan, it is important to consult with a qualified bankruptcy and debt lawyer who can assess your situation and provide personalized guidance on the best course of action.