Even people with the best intentions can allow their finances to get out of control and keeping their heads above water becomes impossible. Whether you are in financial distress as an individual or as a business owner, hiring a bankruptcy attorney to handle your filing is very beneficial.
Invaluable experience- Chapter 7, 11 and 13- which one do you qualify for? With a free consultation, your attorney goes over your financial documents and advises you on the best plan of attack. He may even tell you that your situation is not so dire that you need to file. This saves you the hassle and the emotional toll of going through the process. His experience is especially important because the guidelines can change from year to year and he has to stay abreast of new laws and regulations. He also knows how the Court works and can navigate the legalities and pomp and circumstance of filing. Having someone with knowledge and experience on your side can mean the difference between losing your home or business and keeping it.
Works for you- When you have to deal with the court, they are impartial but the creditors often try to get their two-cents in that will benefit them. Your bankruptcy attorney is firmly on your side and is there to make sure you get the full benefits of the Chapter guidelines. If you have a question, he is a phone call away and during your meetings, you feel like you are his only client.
Reduce errors- There is a lot of paperwork to fill out and submit to the court. Any mistakes can delay the process. Hiring an experienced lawyer who makes sure that every "t" is crossed and every "I" is dotted helps facilitate your path to a healthier financial future. There are also specific timelines that must be adhered to and he keeps you on track so you have all the forms in on time.
An understanding ear- No, your bankruptcy attorney is not a therapist, but he does have a unique understanding of what you are going through because of his experience with clients just like you. This is helpful when your friends and family have a hard time understanding or are less than supportive about your situation.
Financial hardship can creep up on like the tide coming in. Eventually, you are drowning in debt and looking for a lifeline to pull you out. No one likes to admit defeat especially because of the stigma attached to filing for bankruptcy, but when things are so out of control, it is often the only option. Hiring a bankruptcy attorney is the best way to protect yourself when you are feeling so vulnerable.
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