Bankruptcy is a legal process that helps the indebted consumers to start afresh. But if you think you can manage to file bankruptcy on your own, you need to get a reality check. Filing bankruptcy is not a child’s play, so you need the guidance of a proficient bankruptcy attorney to come out of the pandemonium. When you simply can’t pay, bankruptcy is one of the beneficial options for you to come of the debt rut. You can consider the benefits of working with a lawyer before you plan to file bankruptcy on your own.
Can filing under Chapter 7 bankruptcy help to start afresh?
When you file under Chapter 7 Bankruptcy, you can manage to discharge all your unsecured debt if you’ve managed to qualify for it. Well, to be very frank, it may not be possible for anyone of us to file bankruptcy on our own. This is because you may not be able to understand the legal intricacies of the legal procedure. If you’re guided by an attorney, then it can be easier for you to file petition with the bankruptcy court. The attorney can help you get the discharge and guide you to come out of the debt rut.
Are the lawyers efficient to tackle the debt collectors?
A large number of people file bankruptcy to avoid the threatening collection calls from the debt collectors. When you default on your payments, you may receive harassing calls from the collection agency. But if you’re represented by an attorney, the debt collectors may stop bothering you. The lawyer on your behalf may correspond with the creditors to manage the situation. Therefore, legal assistance can help you avoid harassing collection calls.
Do you know how to file petition with the bankruptcy court?
Filing petition with the bankruptcy court is not a child’s play as your petition can be dismissed by the court if you submit incorrect documents. Thus, a proficient lawyer can guide you while filling and submitting the complicated legal papers.
How do you know whether or not you qualify for chapter 7?
In order to file under Chapter 7 Bankruptcy you need to qualify the Means Test. In this situation, a bankruptcy filing expert may review your financial situation and guide you to choose the right option. The lawyer may help you choose the right Chapter in Bankruptcy. He/she can provide you with detailed information on the bankruptcy process. Once you start working with an attorney, you can manage to de-stress yourself from your financial problems.
Are you aware of the Bankruptcy exemptions available to you?
Bankruptcy exemptions are considered to be one of the important reasons for working with an experienced bankruptcy attorney. If you file under Chapter 7 bankruptcy, then the exemptions usually protect your property like home, jewelery along with business related items and so on. The trustee appointed by the bankruptcy court may sell your non-exempt property to use the proceedings for paying off the debts.