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Navigating Personal Bankruptcy in Delaware

Economic hard times can hit anyone like a sledgehammer. It isn’t necessarily over the use of credit cards but personal bankruptcy can be the result of losing a job, or a serious and unexpected medical emergency. To escape the demands of creditors a person may be forced to consider personal bankruptcy. That is a way to solve a financial problem but bankruptcy by itself is not an easy matter at all.

The difficulty lies in the various forms of bankruptcy. Each has its own special requirements for the person filing. Chapter 7 permits the individual to pay all or part of the outstanding debt and Chapter 13 permits a payment plan for the debt. That being said, state law has certain rules regarding wage garnishment and Delaware is no exception. The complexity of bankruptcy law is such that it is properly done with the assistance of an attorney.

It is certainly in the interests of any employer that an employee files the right type of bankruptcy if this is the only way to resolve a personal debt crisis. Wage garnishment is a hassle that every company wants to avoid. Delaware does allow for a certain degree of garnishment, and it would be to a company’s advantage that an employee facing bankruptcy files in a way that diminishes corporate involvement. Of course, a major challenge is that bankruptcy law is so complex. Voluntary legal plans can definitely help.

These benefits can connect a distressed employee with legal counsel that has considerable expertise in the area bankruptcy law. Anyone can negotiate a bankruptcy filing but the end results can be yet another financial disaster. In addition to simply calming a person’s fears, attorneys familiar with bankruptcy can guide an individual through the maze of requirements, making sure that the proper paperwork is filed. A credentialed attorney can assist in negotiating terms that are reasonable and will not put the client in dire straits or cause garnishment of wages. Perhaps bankruptcy filing is not required, and a good lawyer can help clarify possible alternatives. The services that a good bankruptcy attorney provides do, however, cost a fair amount. Voluntary legal plans can help make those expenses easier to bear.

The present economy is still fraught with financial problems and employees are being forced to consider bankruptcy for resolution of debt difficulties. Like it or not, a company can be dragged into the mess due to any wage garnishment requirements. Countrywide Pre-Paid Legal Services is keenly aware of the needs of individuals dealing with bankruptcy. Working with attorneys and employers over the years, Countrywide provides solid advice to Delaware companies looking to establish voluntary legal plans for employees. Countrywide does understand that companies have budgets and tight dollars, and will provide options that are reasonably priced. The peace of mind given to an individual facing bankruptcy combined with a company’s desire to avoid wage garnishment complications are sufficient reasons to give Countrywide Pre-Paid Legal Services a call about setting up a legal benefit for employees.