Four Critical Reasons to Hire an Experienced Bankruptcy Attorney

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 important advice and assistance. Declaring bankruptcy allows you to make a plan to pay off your debts or dismiss them altogether. You may be able to start over by liquidating your assets and paying off your debts, or you may need to get help for your financially secure business. These are four reasons why hiring an attorney helps determine the best course of action for dealing with your debt.

1. Help with complex laws and filing options

The laws surrounding the bankruptcy process are complex and varied, and it can be difficult to navigate without a lawyer to guide you. The filing process itself can be very complex, and making the right choices about how to file can have a lasting 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 try to file for Chapter 7 as an individual but your income is above the annual limit, you’ll need to take a test that relies on your expenses and income. This test can be difficult if you don’t 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 advise you on whether Chapter 7 or Chapter 13 would be better for your particular situation.

2. Knowledge of documents and trustees

Although 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 documents correctly and provide the necessary information. If you file without any legal help and the trustee assigned to your case continues by asking for additional information to corroborate the claims you made in your filings, a bankruptcy attorney can be a valuable resource who knows exactly what to do. what information the court needs. One of the worst mistakes you can make is to provide incorrect documentation and not know how to correct your mistakes.

3. Assistance at a formal court hearing

Depending on how you choose to file, you may have to go to court and present your case to a trustee multiple times. It is important to consider whether you will be able to represent yourself or whether you need an attorney to handle proper courtroom procedures and etiquette. Experienced legal counsel will guide you through the process and handle formal courtroom procedures with ease.

4. Cooperation with creditors

Creditors are required to stop calling and harassing you after you hire a bankruptcy attorney. If they fail to stop the harassing calls after you have hired an attorney, they will be violating the Fair Debt Collection Practices Act, which was created to eliminate abuses used in debt collection. Thus, hiring a lawyer will ensure that you endure less harassment during the bankruptcy proceedings.

Confronting your debts can be overwhelming, but with the help of an experienced attorney, you should be able to resolve your issues quickly and efficiently.

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