In today's world, where losing your job or financial ability can happen unexpectedly, filing for bankruptcy is an excellent way to get out of burdensome debts. It can be medical expenses adding up quickly or the inability to clear your mortgage on time. To avoid the pain of wondering where you'll get enough money to clear huge and increasing debts, consider filing for bankruptcy.
However, because it can be challenging to carry out the whole process when you're emotionally disturbed, an experienced bankruptcy attorney is vital for you. Moreover, to better understand why you need an attorney at this time, here is what you should expect from your bankruptcy attorney.
1. Competence
Because not all bankruptcy cases are the same, working with a competent bankruptcy attorney helps you beat the frustration of wondering whether your case will succeed or not. Generally, your case can be challenging, especially finding facts and seeking the chapter it falls into, Chapter 13 or Chapter 7.
On top of that, your bankruptcy claim can be complex in determining whether trustees will sell your assets and properties or not. However, with a competent bankruptcy attorney, you'll likely understand the best expectations about losing or retaining your properties and assets; thus, helping you make informed decisions based on the outcomes you anticipate.
2. Getting Sound Legal Advice and Saving Money
Think about it. When you're in debt, creditors and debt collectors will call and sometimes threaten. Because you have something that belongs to them, you wouldn't know the right action to take. You might decide not to pick up their calls or answer their emails. This can adversely hurt your credibility and turn into a criminal offense. However, you won't go through such hassles with a bankruptcy attorney at your disposal.
An attorney will quickly and professionally file your bankruptcy claim. Handle all the required paperwork in time and review your creditors' terms to help plan how they'll navigate your case correctly. Besides, your attorney will also guide you on everything you should and shouldn't say in court. For example, they'll inform you whether your case is under Chapter 7 or Chapter 13.
For example, if your case is under Chapter 7, an attorney will inform you it's the chapter most people file since it's quick, and almost all the time, filers don't pay back any of their debts. However, a bankruptcy law attorney will also tell you that this is your best shot only when your gross income is lower than your state's median income requirements.
Share24 February 2022
Hello, my name is Neil Gamford. Welcome to my site about bankruptcy proceedings. After my divorce, I was left near penniless and without a place to stay. I was paying all of my income to alimony and my remaining debts. Although I had a solid payment plan in place, it was getting difficult to cover my financial obligations without a home. Luckily, I met with a bankruptcy attorney, who helped me find a way to discharge my debts and start over. I hope to share the information I learned throughout that process with you through this site. Please feel free to visit anytime.
