Individuals declaring bankruptcy have the option of doing so without the assistance of an attorney. In addition, if you are facing a lawsuit in civil court, defending yourself without an attorney is an option that you have. However, this is not always a smart option. If you file for a Chapter 7 bankruptcy case that involves assets of great worth, or if you decide to declare Chapter 13 bankruptcy, doing it alone would possibly cost you so much more than you will save if it’s done correctly.
The most significant advantage for you is that a competent bankruptcy attorney instantly detects any potential obstacle that could develop during your lawsuit or bankruptcy case and plans accordingly. Here is how a qualified bankruptcy lawyer can help you.
Bankruptcy Lawyers are Already Acquainted With the Legal System
Bankruptcy attorneys are already familiar with the bankruptcy proceedings, but this is most likely your first time to have to deal with these proceedings. If you file for bankruptcy on your own, there is a considerable risk you would face if you declare an incorrect document or skip a deadline, which will cause your bankruptcy to be delayed or even dismissed. You undoubtedly need to get this procedure over with as quickly as possible and an attorney can assist you in doing so.
Whether meeting deadlines or understanding the intricacies of the legal system, bankruptcy attorneys can equip you with the relevant information you require to position yourself in the best possible position when you recover from bankruptcy. You can certainly do your research but choosing a professional legal counsel who will not require any research could save you a good deal of time and worry. By hiring a bankruptcy lawyer, you will be able to complete the procedures more quickly.
A Bankruptcy Attorney Helps You Save Money
Most individuals who opt to independently file for bankruptcy do so due to their poor financial condition and believe that hiring an attorney would just make matters worse. However, it is a misconception and engaging a bankruptcy lawyer will almost certainly save the costs in the end. For starters, having an attorney will ensure that you get the best outcome in your case since they are already experienced in negotiating successful bankruptcies.
Second, hiring an attorney will help you move through all the bankruptcy procedures much faster than you would alone. This is mainly because you will not have to conduct an extensive study before taking action. Also, your attorney will not make expensive mistakes that would lead to rejection of your lawsuit or even delays in your case. Certainly, you'll have to pay a bankruptcy lawyer, but it'll be well worth the expense. Payment plans to pay your bankruptcy lawyer are also an option.
Bankruptcy Lawyers are Aware of Which Chapter is Best For You
The most common bankruptcies are classified into two types: Chapter 7 bankruptcy and Chapter 13 bankruptcy. Each kind has its advantages and disadvantages and without the advice of a bankruptcy attorney, you could find it difficult to pick the best option. While Chapter 7 enables you to discharge all dischargeable debts, Chapter 13 permits you to settle your debts over a certain period. Chapter 7 bankruptcy is more difficult in the sense of qualifications, whereas Chapter 13 could be more difficult when establishing a viable payment plan. An expert bankruptcy lawyer will assist you in weighing the benefits and drawbacks of each type and also how they relate to your specific situation.
A bankruptcy attorney will advise you on which type is best suited to your scenario. If your attorney believes that Chapter 7 would be the most beneficial to you, they'll be able to lead you through every procedure and advise you on what documentation you'll need to present to be eligible for that chapter.
Bankruptcy Attorney Will Handle Your Creditors
If you're thinking about filing for bankruptcy, you've probably had a lot of creditors contact you in a bid to recover their dues. This is undeniably stressful and it could cause you to avoid answering phones or opening your mail. Luckily, when you engage a high-quality bankruptcy attorney, your lenders will stop harassing you because you will be able to now refer all creditors over to your bankruptcy lawyer’s office. Once you've acquired an attorney, you'll notice a significant reduction in your level of stress.
Even if a lender contacts you when you have obtained legal representation, you simply can tell him or her to call your attorney and provide him or her with your lawyer's contact details. After that, the creditor shouldn't be calling you again. Your lawyer's role is to interact with your lenders on your behalf and they handle that role seriously. A bankruptcy attorney wouldn't want you to be bothered and therefore will make it stop.
Ensures You Provide Clear and Comprehensive Testimony
Under the sanction of lying under oath, you are required to sign your paperwork, stating that the details are accurate and correct as per your account. You will affirm or swear that you're stating the truth during your meeting of creditors and any other time you're in the courtroom or under oath. Your bankruptcy lawyer will accompany you to guarantee that your account is accurate and complete.
Better Chance of Succeeding
Since bankruptcy attorneys only handle cases of bankruptcy, they certainly know insider strategies to success or tactics that you won't know, particularly if this is your first-time declaring bankruptcy. A qualified bankruptcy lawyer should know what language to use in your case to convince the courts in your favor. Or, perhaps they have definite expertise with a bankruptcy court judge and therefore could tailor your reply to them. Such minor details can have a significant impact on your success.
You simply don't have the time to learn what a competent bankruptcy lawyer understands about the industry. When you look at how long the professionals have practiced in comparison to what you can acquire on the Internet in a few weeks, their knowledge and expertise are simply incalculable. Your finances should be dealt with care and urgency by somebody who understands the procedures and is committed to making the journey as easy as possible for you.
Assured Peace of Mind
You're already stressed out due to your financial issues, therefore, don't add to your worry by attempting to navigate the complex bankruptcy process without high quality legal counsel. Engaging a bankruptcy attorney is perhaps the single most important thing you could do to relieve the pressure and enable the legal counsel to guide you through the complex maze that is bankruptcy. You've already made the first step towards financial stability. Allow your lawyer to guide you through the rest of the journey.
Having an expert bankruptcy lawyer on your side gives you peace of mind knowing that your lawsuit is being managed properly and guarantees no mistakes that could lead to even further financial issues. Your lawyer will also guide you through the entire bankruptcy process and assure you that you're not a bad individual for having to declare bankruptcy. The bankruptcy attorney will handle you as if you were family and will genuinely care about the result of your bankruptcy case and your psychological well-being.
Insurance Guaranteed
If a bankruptcy lawyer makes an error in your suit, you could be able to seek compensation from their malpractice insurance. If you opt to handle it yourself and make mistakes, you won't have the same level of coverage. Additionally, if you make a mistake in your bankruptcy file, it would lead to a high cost in sanctions and filing charges. A bankruptcy lawyer can assure you that every bankruptcy paperwork is accurately and properly filed on time.
Avoid Unintentional Fraud
Of course, you would never deliberately perpetrate bankruptcy fraud since you want to settle your debts rather than make them worse by serving jail time. However, there are many restrictions surrounding filing for bankruptcy that it's possible to make a crucial mistake, even if it's inadvertent, that the courts could interpret as fraud. For example, you should accurately identify all of your possessions and verify that no money is hidden from the court.
A well-versed bankruptcy lawyer will know exactly all you need to reveal to avoid committing bankruptcy fraud. A great bankruptcy attorney will ask you crucial questions to confirm that all your possessions and assets are properly accounted for, that you have not had anyone hold assets or money for you, and that you've revealed all income sources to the bankruptcy court. Even inadvertent fraud could lead you to trouble. Therefore, it's wise not to take the risk and hire a lawyer to tackle the specifics for you.
Assists You in Understanding the Bankruptcy Means Test
A bankruptcy means test is a technique designed to assess if you're eligible for Chapter 7 bankruptcy or what you would be required to pay in the event you file a Chapter 13 bankruptcy. In the means test, you are required to disclose all income sources over the prior 6 months. From there, you are allotted certain deductions Congress allows you to take. Ultimately, the means test is designed to determine what your monthly disposable income is based on your current financial situation. Engaging a knowledgeable bankruptcy attorney will enable you to know how to make the most of whatever unique circumstances you encounter.
Deals With All the Paperwork Appropriately
Declaring bankruptcy necessitates the completion of a large amount of paperwork. You could download the required paperwork online and complete filling them out by yourself, but if you make mistakes, your case could be jeopardized. Some errors can potentially expose you to legal trouble.
Having a bankruptcy lawyer ensures that all your documents are properly filled out, allowing your case to proceed promptly and easily. You will also save a lot of valuable time by having an attorney handle the documentation for you. This gives you the comfort of knowing that everything was done correctly so that you don't face any legal repercussions.
Attends Hearings on Your Behalf
If you file for relief under the Bankruptcy Code, you are required to attend a meeting of creditors where your assets and debts will be assessed. Your lenders are also welcomed to this forum and have the opportunity to participate. Based on the complexities of your matter, you could be required to attend additional hearings or sessions. When you engage a highly qualified bankruptcy lawyer to defend you, your lawyer could potentially take part in these additional proceedings in your place. In many circumstances, you will not have to participate or attend these additional hearings at all.
Get To Keep Your House
There is a growing demand for bankruptcy attorneys to assist people who are overwhelmed on their mortgages in saving their properties. To stop foreclosure or auctioning your property at a lesser value, you should understand the legal process and take action before the issue escalates. As a result, having a professional lawyer who is well versed in bankruptcy legislation is critical. An exceptional bankruptcy lawyer should be able to advise you on which chapter best suits what you are trying to accomplish.
Strike a Deal With Your Lenders
A bankruptcy attorney can help you reach better terms on mortgages, credit cards, car loans, and other bills, as well as get debt collection agencies to stop harassing you. A bankruptcy lawyer can assist you in evaluating your alternatives and negotiating a repayment schedule with your creditors.
For instance, in Chapter 7, your lawyer could negotiate with a secured lender on your vehicle so you are only required to pay a lesser amount on that vehicle loan.
In Chapter 13, your bankruptcy lawyer can negotiate a repayment schedule, the valuation of collateral which is property or assets that secure loan repayment, and interest rates with your lenders to make your payment schedule reasonable. The lawyer's primary goal is to clear uncertainty and stress in your life while you’re coping with heavy debt. Thus, you can enjoy a financially independent lifestyle with your friends and family.
Rebuilding Your Credit Following a Bankruptcy
Overall, lawyers are skilled at ensuring that your bankruptcy proceeds efficiently, enabling you to enjoy the full benefit of your new beginning. Even so, things do happen afterward that require attention. If your creditor seeks to recover debts that were discharged by the bankruptcy, your lawyer can assist you in resolving post-bankruptcy discharge violations. In addition, numerous bankruptcy attorneys offer advice on credit improvement. They'll provide you with helpful hints to assist you to utilize and enjoy the benefits of the opportunities you're sure to receive soon after your bankruptcy is over.
A Bankruptcy Attorney Will Assist You in Removing Any Eligible Debts
A professional bankruptcy attorney can identify which debts could be discharged and which kind of bankruptcy is ideal for you. A bankruptcy lawyer, for instance, can discover and erase debts that have passed the statute of limitations for recovery. You'll also save funds by totally fulfilling your commitments and not incurring any outstanding bills when your bankruptcy is completed.
Find a Sacramento Bankruptcy Lawyer Near Me
Obtaining peace of mind amid bankruptcy might seem like an absurd idea to some, but dealing with the stress and tension caused by financial issues can be even more terrifying. In such a stressful moment, we at Sacramento Bankruptcy Lawyer provide you with peace of mind. Our experienced lawyer Pauldeep Bains has a proven track record of handling Chapter 7, Chapter 13, and other bankruptcy-related matters. Please call us at 916-800-7690 to set up a free consultation.
