Contacting a Lexington bankruptcy attorney is a situation that no one looks forward to. Personal bankruptcy is often brought about by unexpected alterations in your financial condition because of medical bills, job loss, extreme debt and divorce. The action of filing for personal bankruptcy should be thought of as a conscientious action on the path to creating your financial independence. If you decide to file for personal bankruptcy, you should hire a Lexington bankruptcy attorney. You'll begin by filing a petition with a statement of your assets and liabilities, as well as a list of your creditors. Preparing the documents needed to start the personal bankruptcy process is complicated and is will be best accomplished by an experienced Lexington bankruptcy attorney. Your attorney will see to it that all the information on your documents are correct to avoid being accountable. Because of the weight of this responsibility and the many tasks involved in filing for personal bankruptcy, a Lexington bankruptcy attorney will charge a service fee for his services. Consider this service fee money well spent. The most popular form of personal bankruptcy is known as Chapter 7. Under Chapter 7 all of your non-exempt assets are either turned over to your creditors or liquidated. Exempt property typically includes things such as basic household furniture and vehicles. Then there are others who may qualify for Chapter 13 personal bankruptcy. In this case the bankruptcy court would approve a repayment plan that allows for using your future income in order to pay off the debts within a specific time period. Your Lexington bankruptcy attorney will help you decide which type of personal bankruptcy best fits your circumstances. Upon filing of your personal bankruptcy, all of your creditors will be notified and a court order will stop all garnishment of wages, creditor harassment, and foreclosures. Finally you will be able to breathe a sigh of relief as the phone stops ringing and you can get back on track with your life.