With the economy still reeling under the effects of the global financial meltdown with no sign of respite in the near future, more and more people are finding it increasingly difficult to pay their bills in time and as a result there is an ever increasing line of creditors at their doors for the unsettled bills. And with even more countries running bankrupt, the Eurozone crisis being the latest addition, there is no relief in sight. Whether you are a personal consumer or the owner of a business, run into financial distress such that it is proving impossible for you to pay up your pending bills even after having imposed all possible restrictions on your expenses, it might be the time for you to file for bankruptcy.

Now, bankruptcy can be filed under several chapters depending on whether you are looking for a complete discharge of your debts (chapter 7) or a restructuring of your debt payment schedule to suit your financial condition (chapter 13). One advantage of filing for bankruptcy is that it puts a temporary stay or your debts till the case is settled. This buys you some much needed respite from the constant and incessant harassment of your creditors. However, it is only during the period of your lawsuit that your creditors can be stalled. But there is no certainty that the judge will be sympathetic towards your case. It would be useful to remember that if you file for bankruptcy, it comes under the jurisdiction of federal court and will be tried by a federal judge. Add to that the complex bankruptcy law, especially after the new laws of 2005, and you have a difficult situation on your hand as without an in-depth knowledge about the prevailing bankruptcy laws, you have a very remote chance of impressing upon the judge, the precarious situation of your finances.

Hence it is important that you hire a good and experienced bankruptcy lawyer to represent your case in court. A good bankruptcy attorney not only knows the bankruptcy laws in and out but also knows how to present your case effectively in front of the judge and would be instrumental in convincing the court about your financial situation by finding a suitable debt payment schedule that would be convenient for you.

To choose a good bankruptcy lawyer, the best option would be to contact the bar association of your area. They will be able to guide you to an accomplished attorney who is well experienced in dealing with such cases. But before you employ your lawyer, you should make proper use of the free consultation session offered by him to get to know him and straighten out the issues regarding the lawyer's fees as well as to give him a detailed account of your problem and the kind of settlement that you are expecting. A good lawyer will give you a patient hearing and understand your situation before giving his counsel and will help you in every step of the lawsuit. Finally, he can also help you find financial training which is necessary as a part of your bankruptcy lawsuit for you to undergo in order to have a fresh start.

Hence, a good bankruptcy lawyer can help you in a myriad way with regards to your bankruptcy.