If bankruptcy has crossed your mind, whether to restructure debts or simply because you don't know what else to do, it's time for you to consider bankruptcy attorney services. For many people, bankruptcy is their last resort after trying to deal with overwhelming debt on their own. There are five principal reasons why hiring an experienced bankruptcy lawyer can help.
Making the Right Decisions for Bankruptcy
The bankruptcy code is very complex, and choices about which option to choose can be overwhelming. Whether filing bankruptcy under Chapter 7 or Chapter 13, each case is different and requires thoughtful consideration of your options. You also need to carefully choose which debts you will include in your bankruptcy petition, and bankruptcy attorneys are experienced in this area.
Streamlining Bankruptcy Proceedings
Bankruptcy cases can be time-consuming, burdensome, inconvenient, confusing, embarrassing, and costly if you try to do it yourself. Bankruptcy attorney services will help ensure the bankruptcy process goes smoothly and quickly through effective negotiation with creditors and bankruptcy courts. A bankruptcy attorney will also help ensure that bankruptcy laws are strictly followed to avoid later complications.
Negotiating with Creditors
At the end of a bankruptcy case, a bankruptcy lawyer will have to deal with your creditors. Creditors might be willing to accept smaller monthly payments, lower interest rates, or even a lump sum settlement. Bankruptcy attorneys can help negotiate these options so that you can move forward with bankruptcy without the burden of debts hanging over your head.
Avoid Bankruptcy Fraud
Bankruptcy fraud occurs when bankruptcy filers intentionally give creditors false information about their financial status to qualify for bankruptcy protection. Giving such false information is a serious crime that carries harsh legal consequences, including fines of up to $250,000 or more and possible time in prison. A bankruptcy attorney knows all the bankruptcy laws and can ensure that you don't accidentally commit bankruptcy fraud.
Getting A Fresh Start
After bankruptcy, many people feel as if a huge weight has been lifted from their shoulders because they no longer have to deal with the never-ending pressure of excessive debt and harassing phone calls from creditors and bill collectors. The bankruptcy lawyer will walk you through the bankruptcy process, guide you to make the right bankruptcy choice for your case, and will advocate on your behalf throughout bankruptcy proceedings.
The Takeaway
Bankruptcy attorney services can be very beneficial to those looking for advice and guidance throughout the bankruptcy process. A bankruptcy attorney will provide you with bankruptcy advice based on existing rules, laws, and procedures.
For more information on bankruptcy, contact bankruptcy attorney services near you.
Share28 October 2021
If your mountain of debt has grown so tremendous that you can't imagine a way out, then you need to contact a bankruptcy attorney. Even though filing bankruptcy can seem like cheating, it is sometimes the only option when you have consumer or medical debt that is consuming your paycheck and then being left unpaid. An attorney can take a look at your finances and recommend a pathway out of debt utilizing one of the several types of bankruptcy available. Learning more about this process can make it seem more approachable. Dig into the articles on this website to get started with that learning.
