A good bankruptcy attorney will help you navigate the process from start to finish. They will know the ins and outs of the law, which allows them to handle the paperwork for you and represent you in court.
They will also be able to tell you if bankruptcy is right for you or if there are alternatives to it. Read on for some tips on why you should hire a bankruptcy lawyer.
Table of Contents
1. Legal Representation
Your attorney will work to shield your assets from creditors and help you get out of debt. This includes preventing foreclosure of your home, repossession of your car or garnishment of your wages.
A good bankruptcy lawyer knows which assets you can protect and how to use state laws to your advantage. They will provide a thorough and honest assessment of your case during the initial consultation.
They will also help you navigate the court system and the judge involved in your case. Mistakes like filling out paperwork incorrectly or failing to turn it in by a deadline can have disastrous consequences for your bankruptcy. An experienced bankruptcy attorney can prevent these mistakes. They will also guide you on how to handle creditor harassment after you file.
2. Help with Filing
Bankruptcy requires a lot of paperwork and records, including asset valuations, loan balances and monthly payments. In Harrisburg, PA bankruptcy lawyers can help you get all this information together and organized, so that it is ready to file with your case.
A lawyer can also help you decide which type of bankruptcy is best for your situation. They can explain the different types of bankruptcy and how each one will affect your finances. They will help you determine which debts can be wiped out and which ones need to be paid off. They can also advise you on less drastic options for resolving your debt, such as debt settlement or debt management programs. They will also help you file your bankruptcy petition correctly. This will increase the chance of your case being successful.
3. Representation in Court
A qualified bankruptcy attorney can help you determine if filing is the best option for you, how much it will cost and what steps you need to take to get back on your feet after the process is over. They can also help you build a credit plan to help you rebuild your credit over time.
Bankruptcy is complex, and it requires extensive paperwork detailing your assets, income and expenses under penalty of perjury. A lawyer who specializes in bankruptcy will know exactly what information the court is looking for and how to
anticipate case needs, such as knowing how to value your property and use state exemption rules to protect your most important possessions.
An experienced bankruptcy attorney will also be familiar with local court procedures and personnel, which differ from region to region. These differences can make a difference in how smoothly the process goes.
4. Negotiation with Creditors
A bankruptcy attorney is skilled at negotiating with creditors on your behalf. This is an important step in the process to help you get a better deal for your debts. If you’re struggling to pay your debts and are in danger of losing your home or car, bankruptcy may be a viable option for you.
Creditors are often willing to lower the amount you owe or work out a payment plan with you, especially if they realize that a debt will be discharged in bankruptcy. However, if they conclude that you are not committed to paying what you owe, they might turn it over to collections.
Be sure to choose a bankruptcy lawyer who is empathetic to your situation. A good lawyer will take the time to understand your needs and answer your questions thoroughly.
5. Legal Advice
Although anyone can file for bankruptcy, individuals who go pro se (without a lawyer) have a much lower success rate than those that hire an attorney. An attorney will know the proper rules and procedures of federal courts and understand what judges expect in a case. They will help you decide which type of bankruptcy to file, value your property realistically and determine which debts can be wiped away and which must still be paid.
Choosing the right bankruptcy attorney requires research and careful consideration, but doing so can mean the difference between successfully getting rid of your debt and making costly mistakes that will have lasting effects on your credit report and financial life. A good bankruptcy lawyer will make the process of filing less stressful and easier for you.