Filing bankruptcy is emotional, stressful and complex for many people. The thought that you are swimming in debt and you owe more money than you are bringing in is scary and certainly overwhelming. You have the option to file for bankruptcy on your own but if you are overwhelmed or stressed out already, why would you want to add to that by trying to figure out how to file correctly? Even worse, if you do try and file for bankruptcy on your own and you file incorrectly in could negatively effect the rest of your life and add to the stress you are already under. Hiring a bankruptcy lawyer can ensure you file correctly and allow you to move on with your life.
Here are some reasons why hiring a bankruptcy lawyer is a good idea:
1.) You do not get a redo: Once you decide to file bankruptcy and you choose your type (chapter 7, 11,13, etc) you have to stick with that choice. After you declare say Chapter 7 bankruptcy, you are unable to go back and refile for Chapter 13 bankruptcy instead. Everyone’s situation is different and for every situation there is a type of bankruptcy that will be more beneficial to the individual filing. If you have a bankruptcy lawyer on your side they will help you file bankruptcy that will be most beneficial to you.
2.) Saves you time and headaches: Filing bankruptcy can be very time consuming for someone who has never been through the process. You can spend a lot of time reading through all of the documents, making sure you’ve signed in all of the correct locations throughout the documents, and properly turning in all of your documents to the state. If you are new to the process, it can be very confusing causing a lot of headaches along the way. A bankruptcy lawyer will be able to save you from all of this.
3.) Protection from the unknown: There are many paths of communication that need to happen to ensure a successful bankruptcy. Communication between the courts and trustees, communication with creditors and banks, and communication with the individual filing to understand their situation to declare correctly. If you do not know what is all involved in the process you could get lost. A bankruptcy lawyer will guide you through what you do not know.
Hopefully you will find a bankruptcy lawyer who will help you through the challenging process of filing bankruptcy. It is a stressful time for you and those around you. The most important thing is taking care of it correctly so you can move on with your life.