Why You Need The Help of an Experienced Lawyer to File Bankruptcy

Are you thinking about filing bankruptcy? Do you need to hire an attorney to help you file?

Bankruptcy law does not require a person have an attorney assist them in filing for bankruptcy. This means that you could choose not to hire a bankruptcy attorney to help you file for bankruptcy.

But, bankruptcy is a complex and complicated law. One misstep or wrong move could cost you even more money than you saved by not hiring an attorney. There is simply too much at risk to face bankruptcy alone.

The following four reasons explain why you should hire an experienced bankruptcy attorney.

A Bankruptcy Attorney Will Know if Bankruptcy is Best for Your Financial Situation

Bankruptcy can help eliminate debt and open a path to a financial fresh start. Every person’s financial situation is unique. You may be so burdened by your debt that you believe you have no other options. An experienced bankruptcy attorney can look at your financial situation and know if bankruptcy is your best option.

During your free consultation, an experienced bankruptcy attorney can assess your financial situation. They will determine if they can help you through the bankruptcy process or suggest other alternatives.

There are Different Bankruptcies. A Bankruptcy Attorney Will Know the Bankruptcy that is Suited for You. 

Chapter 7 and Chapter 13 bankruptcy can help debtors with financial fresh start. But, each has different rules and accomplishes debt elimination in different ways. What would work for one debtor may not be the best solution for another debtor. Filing the wrong type of bankruptcy could cause you even more financial hardship.

An experienced bankruptcy attorney will know the rules associated with each type of bankruptcy and how they would affect you.  The attorney could advise you on which type of bankruptcy you should file to receive the best financial advantage. He or she would know which type of bankruptcy would help safeguard your assets and help you eliminate the most debt.

A Bankruptcy Attorney Will Know the Required Documents and How to Best Navigate the Bankruptcy Maze. 

Filing a bankruptcy petition requires a lot of paperwork. The bankruptcy court will want to know about your:

  • income
  • assets
  • expenses
  • debts
  • other financial information

Incomplete or missing documents could result in your bankruptcy being dismissed or denied. You also must sign all bankruptcy documents under penalty of perjury.

Instead of trying to figure out the paperwork on your own, an experienced bankruptcy attorney could guide you through the process. Your bankruptcy attorney will know:

  • exactly what you must disclose,
  • how to gather the necessary financial documents, and
  • how to complete the bankruptcy paperwork. 

They will help ensure that you do not perjure yourself or disclose information that could get your bankruptcy case denied.

A Bankruptcy Attorney Will Know How to Protect Your Best Interests during Bankruptcy

Once you file your bankruptcy petition, the bankruptcy court will notify your creditors. Because of a legal injunction (automatic stay), which goes into effect as soon as you file bankruptcy, the bankruptcy court prohibits your creditors from all collection activity during your bankruptcy case. 

But, some creditors may choose not to abide by the automatic stay and continue to harass you for payment. If you have an experienced bankruptcy attorney helping you, he or she will know how to file a petition against the creditor with the court. The creditor could be held in contempt of court and could face legal repercussions.

Also, bankruptcy law allows creditors the right to object to your bankruptcy. They can bring their complaint before the bankruptcy court during the Meeting of Creditors. This meeting will take place within 45 days of filing a bankruptcy petition. An experienced bankruptcy attorney can help defend you against the creditors’ claims. They can also help show the bankruptcy court that your bankruptcy petition deserves approval.

Let Our Bankruptcy Attorneys Help You File Bankruptcy

Brock & Stout’s bankruptcy attorneys have over 20 years of experience helping clients get a financial fresh start through bankruptcy. We help guide our clients through each step of the bankruptcy process. 

Contact us for a free evaluation of your financial situation to see if bankruptcy is the best option for you and your family. We want to help you gain financial freedom.