If you find yourself having to file for bankruptcy, you may wonder if you should hire an attorney, or do everything on your own. The entire process of filing for bankruptcy may be daunting. It involves not only abiding by state and federal laws but a lot of other important matters as well. However, with an experienced and qualified attorney, you will have a much smoother experience.
Here are the top six reasons why you should hire an attorney to file for bankruptcy:
- A bankruptcy attorney helps you assess your finance: A major benefit of hiring the services of an attorney to file for bankruptcy is that they can help you assess your financial situation thoroughly. This is important because an extensive assessment of your finances will let you know which available option is most suitable for your current situation. Plus, your attorney will provide you a detailed description of all your rights and responsibilities.
- A bankruptcy attorney protects you from creditors: As mentioned before, you will be made aware of your rights if you hire an attorney. This includes your right to not be harassed by your creditors. Whether they are debt collectors or collection agencies, if their behavior is considered as “abusive” according to the rules, your bankruptcy attorney can get such behaviors to stop. This gives you the opportunity to not be distracted and instead focus on necessary steps you have to take to be financially independent again.
- A bankruptcy attorney offers legal guidance: The process of filing for bankruptcy involves a lot of laws and regulations that have to be followed. This can prove to be overwhelming for the common man. But with a qualified and experienced bankruptcy attorney by your side, this will not be a problem at all. They will guide you through the entire process with their legal expertise and advise you on how your debts can be settled as soon as possible, all the while minimizing your losses and making sure all rules are followed.
- A bankruptcy attorney ensures no errors are made: It is no secret that filing for bankruptcy means a ton of paperwork that needs to be filled with accurate information. Even as a result of one small mistake, the entire process can be jeopardized. Your final petition must contain all your financial records and other important supporting documents besides your application, and an attorney can help you with this. He or she will make sure that every little information is where it should be. If you make any mistake, it may be considered as “felony” since it goes through the United States Department of Justice, apart from the court. Therefore, an attorney can make sure that this does not happen by helping you with your paperwork and offering valuable advice.
- A bankruptcy attorney can help you avoid home foreclosure: If you do not file for bankruptcy quickly, your home may be foreclosed. This means that you could lose your home to your bank. If you file for Chapter 7 bankruptcy, most or all of your debts will be paid off, but your trustee will have to sell your house to cover your payments. If this isn’t your choice, you could file for Chapter 13. Hiring an attorney will let you know which option is best for you.
- A bankruptcy attorney gives you peace of mind: Last but not the least, hiring a bankruptcy attorney offers you peace of mind during the entire process. After all, if you know that your petition is in good hands, and an expert in the matter is there to guide you through it all, you not only save time and money but avoid stress too.