Declaring bankruptcy can save you from sinking in your debts. It is permissible and legal for people to file for bankruptcy by themselves. However, you risk losing a lot if you choose not to involve a legal representative in your bankruptcy case. Many people go for the option of representing themselves so that they can reduce their expenses. Well, self-representation will, indeed, save you money. Nevertheless, it is not a good idea. The best approach is to hire a competent bankruptcy attorney to represent you. Outlined below are well-elaborated reasons that justify the importance of involving a legal representative in your bankruptcy case.
Assist you in choosing the best bankruptcy option. What most people do not know is that there are diverse bankruptcy options. These options are often distinguished as chapter seven and chapter thirteen options. Choosing the wrong option could cost you. For instance, assuming that you are behind on your mortgage payments, and you choose the chapter seven option, you will lose your house. Bankruptcy lawyers have a deep understanding of each option. They will, therefore, evaluate your wants and recommend an option that will be suitable for you. In most instances, people that fail to seek assistance from bankruptcy lawyers end up selecting an option that doesn’t suit their situation and wants. They, as a result, end up losing some of their assets to their creditors. Don’t make the same mistake. Find a bankruptcy attorney.
Creditors will be on your neck. Aside from calling you several times a day and threatening you, they will also take legal measures to ensure that you pay their debts. Most creditors move to court to file for repossessions and wage garnishments. If your creditors were to file their case against you successfully, you’d lose everything, including your income. Bankruptcy attorneys will deal with your creditors on your behalf. For instance, they will move to court to seek a collection defense. This way, they’ll protect you against any moves your creditors take to repossess your properties or benefit from your wages. In addition, the attorney will also speak with your creditors on your behalf. As such, they’ll save you unnecessary pressure and stress.
The process of filing for bankruptcy is intricate, and one mistake could jeopardize the entire process. When you go solo, your chances of making a mistake will be considerably high. Why? Because of your unfamiliarity with the policies and regulations governing bankruptcy. Lawyers are familiar with all the regulations and policies. They are, therefore, less likely to make any mistakes. When you have a lawyer by your side, you can rest assured of a smooth process. Plus, you’ll receive professional guidance. Your chances of making a wrong move will, in this case, be zero next to nothing.
Lawyers will help you in making all the necessary preparations. A lot of things have to be done before proceeding to court to file your bankruptcy case. For instance, paperwork has to be prepared, and property valuations have to be done. Your lawyer will handle everything. They’ll only seek you out whenever necessary.