Deciding to file for bankruptcy is a big decision, one that can weigh on you. Once you make the call to go forward, it’s essential to hire a bankruptcy attorney. You need an experienced expert to help you throughout the process and provide support along the way. Your lawyer can also provide reassurance and answer key questions you may have throughout the legal proceedings – and after.
Check out these top reasons why you need an experienced bankruptcy attorney on your side.
Help You Decide Between Chapter 7 and Chapter 13 Bankruptcy
When you decide to file for bankruptcy, the next big decision you need to make is whether to file for Chapter 7 or Chapter 13 bankruptcy. These have key differences between them, so it’s essential to have an attorney explain the pros and cons and help you make the right choice for your situation.
You have to complete a means test to file for Chapter 7 to prove your income is below a threshold and you cannot afford to repay the debt. If you qualify to pursue this form of bankruptcy, you may need to liquidate some assets to repay a portion of your debt. At the conclusion, all of your unsecured debt should be discharged.
With Chapter 13 bankruptcy, you can pay back your debt over three to five years through a court-approved repayment plan. Any remaining unsecured debt that remains after the completion of the repayment plan may be discharged.
A bankruptcy attorney can outline all of the pros and cons with you, and help you determine which one you qualify for.
Experience to Handle All Situations
While this may be your first time filing for bankruptcy, your attorney has helped numerous clients through it. They know the process and the bankruptcy laws inside and out to ensure you take all of the right steps, submit the right documents, and file everything on time.
Stop Harassment From Creditors
When you file for bankruptcy, an automatic stay will be issued. This means your creditors cannot harass you for repayment during your bankruptcy process. This includes calling, showing up at your house or place of work, or even garnishing your wages. If they fail to adhere to this order, then your attorney can contact them on your behalf.
Give You Assurances
You do not want to go through the bankruptcy process on your own. You need an experienced bankruptcy attorney on your side to ensure your application is correct and doesn’t contain errors. If you file documents on your own without an attorney there to review them, you risk submitting incorrect documents and having your case thrown out.
When you hire an attorney, you know you have an expert set of eyes to review each form and ensure it is submitted correctly.
Save You Money
One of the biggest myths surrounding bankruptcy is that you will save money by filing on your own instead of hiring an attorney. In reality, an attorney can save you money. A lawyer will help you avoid costly mistakes and delays, and can also help achieve the best long-term outcome possible.
The bankruptcy process can be stressful, and emotional. When sorting through your debts and worrying about your financial future, you need a bankruptcy attorney in your corner who can provide assurances and help set expectations.
Let Our Bankruptcy Attorneys Help You
When filing for bankruptcy, you need an experienced attorney to guide you through the process. Let our lawyers at The Law Offices of Alexzander C.J. Adams, P.C. help. We work for you, the people, and not institutions. Contact us for a free case evaluation, or no-obligation consultation. We are dedicated to helping you overcome this small bump in the road and assisting you to get on with your life.