Debt relief law encompasses a range of topics including bankruptcy and credit counseling.
Given that one in seven United States households is in the midst of or recently completed the bankruptcy process, there is a large demand on attorneys specializing in this area to be current with debt relief law. Bankruptcy is typically the last step a debtor takes when all other options for payment have been exhausted; since this is an expensive process with a great deal of risk involved, it is important for lawyers to be knowledgeable on the subject as a whole. There are different types of bankruptcy; Chapter 13 allows the debtors to pay their creditors back over time, while Chapter 7 essentially frees debtors completely of their financial obligations. Attorneys in debt relief law should strive to help their clients find a way to repay their debts if possible, as credit is generally not available for as many as 10 years after the bankruptcy is complete.