While needing to file for bankruptcy means that you are not in the best place financially, it doesn't mean you can skip getting a lawyer to help you out. Here are some reasons that you need a lawyer on your side through the entire process.
Your Lawyer May Discover You Don't Need Bankruptcy
If you are not 100% positive that you need to use bankruptcy, it can be very helpful to have a lawyer look over your case. Your initial meeting with a lawyer will help determine if bankruptcy is necessary. There are other options to deal with debt that they can also help you with, such as a debt consolidation or a debt settlement.
Your Lawyer Can Help Determine Which Bankruptcy Option Is Best
Are you certain what the differences are between Chapter 7 bankruptcy and Chapter 13 bankruptcy? If not, you don't want to make the mistake of filing for the incorrect one. Your lawyer will look at your debts and determine if one form of bankruptcy is better than the other one, and explain to you what the differences are.
Your Lawyer Can Prevent Filing Insufficient Documentation
You have one shot at filing for bankruptcy, which is why you need to make sure that you are doing everything correctly. Be aware that if your bankruptcy is denied, you must go through a waiting period before you file again. During that waiting period, creditors can go after you for your debts.
A lawyer will look over your paperwork and verify if you have enough documentation to justify your bankruptcy request. This will prevent the problem of an unexpected denial and having to wait it out or go through the appeal process.
Your Lawyer Can Help You Understand Exemptions
Bankruptcy will cause you to give up the right to property that you own since it will help pay for those existing debts. However, some property can be protected by an exemption. Your lawyer can help identify all property that qualifies for an exemption, which will help you hold onto it.
Your Lawyer Can Help You Receive Counseling Certification
Part of filing for bankruptcy involves attending a financial management and credit counseling course. Your lawyer can help direct you to where you can receive certification, as well as how you can lower the price or help pay for it during your bankruptcy.
Meet with a lawyer for a consultation to learn more about what they can do.
Share
