It is unfortunate if you have found yourself in a situation where you have no other choice but to file for bankruptcy. The thought of filing for bankruptcy can be intimidating and scary. It is a decision that comes with significant and hopefully beneficial long-term outcomes. If not completed properly, however, bankruptcy can result in a whole host of problems – something you already have plenty of if you’re considering filing for bankruptcy, right?
It is not uncommon for people to try to file for bankruptcy by themselves. Filing it yourself can save you from the costs of hiring a bankruptcy lawyer to handle the process for you. After all, you are already in enough financial trouble. It would not be wrong to think, “Why should I hire a bankruptcy lawyer and spend more money when I’m already filing for bankruptcy?”
Individuals do have the right to file for bankruptcy without an attorney. However, it might not be a good idea unless your case is very straightforward (which it rarely is with bankruptcies).
You should understand that bankruptcy is a complex legal matter that involves state and federal laws, as well as various matters that range from being simple to the most complicated issues. Not making the right decisions while filing for bankruptcy could result in you losing more money than you would have had to spend on hiring an expert to help you navigate the whole process!
This post will serve as a guide to help you understand the benefits of hiring a bankruptcy lawyer for your case so that you can make a well-informed decision regarding filing for bankruptcy and getting a proper fresh start once you’re done with the entire process.
5 Advantages of Hiring A Bankruptcy Lawyer
We have identified some of the biggest advantages of hiring an experienced bankruptcy lawyer to help you understand why it would be better to have an expert on your side when you are in the process of getting a fresh start.
1. They can assess your financial situation properly
You might have found yourself in a situation where you have to file for bankruptcy because you were possibly not very good with your finances. Regardless of why it might have turned out this way, you might have too many things to handle, and carefully examining your finances might be an overwhelming task.
Having a good grip of your financial situation will be necessary to assess the different options available to you when it comes to filing for bankruptcy. An experienced bankruptcy lawyer can carefully comb through your finances and offer you advice on the best option available to you when you file for bankruptcy. They can also provide you with a detailed understanding of your rights and responsibilities when filing for bankruptcy.
2. They can guide you through the complex legal matters
It is no secret that filing for bankruptcy will open a trove of legal complexities that can be too difficult for you to understand. A skilled bankruptcy lawyer is an expert at understanding the sophisticated codes and regulations surrounding bankruptcy laws at the state and federal levels.
A really good bankruptcy lawyer can identify the regulations that are relevant to your case and explain them to you in simpler terms so that you can understand all of them. Additionally, the lawyer can guide you through the steps of the filing process to make the matter more straightforward for you.
3. They can ensure that your petition for bankruptcy doesn’t have errors
One of the reasons that people are scared to file for bankruptcy is the mountain of paperwork involved in the process. The final petition is supposed to have a record of everything related to your financial matters. It is very easy for an individual to overlook important details or enter incorrect information by mistake because of all the paperwork they have to deal with. The US Department of Justice does not take the matter of fraud while filing bankruptcy lightly. Any important information being missing from the petition when you file it could be seen as bankruptcy fraud, even if you never intend to do anything like that.
Having an experienced bankruptcy lawyer file the petition for you comes with the peace of mind that all the necessary information will be in the right place for your petition. They will ensure that everything in the filing is accurate and complete so that the process can proceed smoothly.
4. They can protect you from creditors
When you file for bankruptcy, the creditors you owe money to are given the order that prohibits them from any collection activity after filing your case. Unfortunately, not all creditors honor the law and harass people to get the money out of them.
Hiring a bankruptcy lawyer who is good at what they do will mean that you do not have to worry about harassment from your creditors. A good attorney will give you clear directives on what kind of behavior from your creditors could constitute them violating the automatic stay.
The attorney can also help you understand your rights through the filing process so you no longer have to cope with any harassment from debt collectors who do not respect the law.
5. They can offer counsel
When you hire someone who has an in-depth understanding of the bankruptcy filing process, the complex rules and regulations surrounding it, and the ability to help you navigate through it all, you can also count on them for trustworthy advice on avoiding future problems. You can also rely on the attorney to provide you with the best legal counsel to make important decisions regarding settling your debts as quickly and as much as possible.
Are You Thinking Of Filing For Bankruptcy?
All things considered, we think it is clear that working with an attorney can make sure that your bankruptcy filing and the rest of the process can go through smoothly. Bankruptcy is a complex legal matter, and having an experienced legal professional who is skilled in all the matters related to bankruptcy can ensure that you can get through the entire process without being overwhelmed by the legal complexities of the entire situation.
If you’re looking to make a fresh start with your finances, you should seriously consider giving a thought to hiring an experienced bankruptcy attorney to handle the filing for you.
If you are ready to file for bankruptcy, having the right bankruptcy lawyer on your side can make a world of difference in helping your case. Consider working with the reputable bankruptcy attorneys at Welch Law Firm by contacting them today.