Four Critical Reasons to Hire an Experienced Bankruptcy Attorney
If you are experiencing financial difficulties and are unsure of your options, an experienced bankruptcy attorney can provide critical advice and assistance. Filing for bankruptcy allows you to make a plan to pay off your debts or discharge them altogether. You may be able to get a fresh start by liquidating your assets and paying off your debts, or you may need to get help for your financially protected business. Here are four reasons why hiring an attorney helps you decide the best course of action to deal with your debt.
1. Help with complex laws and filing options
The laws surrounding the bankruptcy process are complex and varied and can be difficult to navigate without a legal professional to guide you. The filing process alone can be very complicated, and making the right decision about how to file could have a permanent impact on the rest of your life. When it comes to individual filing options, Chapter 7 is faster but has an income limit, while Chapter 13 usually involves a 5-year payment plan. Choosing between the two can be confusing; For example, if you’re trying to file for Chapter 7 as an individual, but his or her income exceeds the annual limit, you’ll need to take a test based on your income and expenses. This test can be difficult if you do not have legal advice because it is not based on your current income or actual expenses. An experienced bankruptcy attorney can help you make the right decisions and will advise you on whether Chapter 7 or Chapter 13 would be better for your particular situation.
2. Familiarity with paperwork and trustees
While you are technically allowed to submit your own documents, most people who are not familiar with the process do not know how to fill out the paperwork correctly and provide the required information. If you file your case without any legal help, and the trustee assigned to your case follows up with requests for additional information to confirm the claims you made in your documents, a bankruptcy attorney can be a valuable resource who knows exactly what information the court needs. One of the worst mistakes you can make is providing incorrect documentation and not knowing how to correct your mistakes.
3. Help with a formal court hearing
Depending on how you decide to present your case, you may have to go to court and present your case to a trustee multiple times. It is important to consider whether you would be able to represent yourself or whether you would need an attorney to handle proper courtroom procedures and etiquette. An experienced legal advisor will guide you through the process and handle the formal courtroom proceedings with ease.
4. Support with creditors
Creditors should stop calling and harassing you once you have hired a bankruptcy attorney. If they don’t stop harassing calls after you’ve hired an attorney, they will be violating the Fair Debt Collection Practices Act, which was created to eliminate abusive practices used in debt collection. Therefore, hiring an attorney will ensure that you experience less harassment during your bankruptcy process.
Facing your debts can be overwhelming, but with the help of an experienced attorney, you should be able to resolve your issues quickly and efficiently.