If you are buckling under debt and can no longer afford to keep up with your bills, bankruptcy may be the ideal solution. Some people think that they can handle a bankruptcy case on their own or may think that hiring a bankruptcy attorney is too expensive when already dealing with financial issues. However, if you are planning on filing for bankruptcy in the near future, it is always in your best interest to hire a bankruptcy attorney to assist you. Some of the top reasons why it makes sense to hire an attorney when filing for bankruptcy include the following:
Stop Harassment From Debt Collectors
Being in debt and not having enough cash to cover all of your bills is already stressful enough. The constant calls and harassment from debt collectors just make the entire situation that much worse. When you file for bankruptcy, debt collectors have to stop contacting you and harassing you for payments. Your bankruptcy lawyer will contact your creditors on your behalf and inform them that they must cease all communication. This means that you will have peace from the phone calls and demand letters while you are going through the bankruptcy process.
Most people have no experience with bankruptcy and don't completely understand how the process works. Thus, trying to go through a bankruptcy without the services of a bankruptcy attorney often results in errors and mistakes that can drag the process out or result in your petition for bankruptcy to be denied. A good bankruptcy lawyer will guide you through every step of the bankruptcy process to help ensure that everything is done correctly. Your lawyer will advise you on what chapter bankruptcy to file for and will also make sure that all necessary documents are filled out properly and submitted to the court on time.
Retain as Many Assets as Possible
Bankruptcy is quite complicated and complex with many different laws and regulations. Some forms of bankruptcy require a person to sell off their assets to pay back their debt. But, there are also forms of bankruptcy that allow someone to keep some possessions, such as their primary residence and personal vehicle. A bankruptcy attorney will have a deep understanding of bankruptcy law and will work on your behalf to ensure that you can retain as many of your assets as possible. This will help make the bankruptcy process easier since you won't have to completely rebuild your life.