The bankruptcy process in Alabama follows federal law, so filing isn’t different from filing for bankruptcy in another state. You should know the benefits of hiring an attorney to help you file for bankruptcy. Here are just a few of the top reasons it’s essential.
They Can Recommend Which Chapter Is Best for You
There are two types of bankruptcy: Chapter 7 and Chapter 13. A bankruptcy lawyer can help you determine what’s best for you. For example, if you file Chapter 7, it will wipe your unsecured debt out. If you file Chapter 13, you will pay the debt back.
In Chapter 7 bankruptcy, you are likely to remove debt, but in Chapter 13 bankruptcy, the amount you owe may increase. An experienced bankruptcy attorney can help you analyze which bankruptcy chapter would be best suited to your situation and will advise you accordingly.
They will counsel the chapter that is best suited to you. For example, your lawyer can guide you through Chapter 7 if that is the one they believe will be most helpful to you, and they can suggest which documents you need to provide to qualify.
They Understand the Legal Process
You probably have yet to deal with bankruptcy procedures, whereas bankruptcy lawyers are familiar with them. As a result, you may miss a deadline or need to remember to file a document if you try to file for bankruptcy, which could delay your case.
You will need a lawyer to get this process over with as soon as possible. To put yourself in the best situation when you emerge from bankruptcy, bankruptcy lawyers can provide you with the knowledge. Beyond helping you meet those critical deadlines, they can help you understand the legal process.
Of course, you can conduct your research and will learn a great deal during the process. However, choosing an attorney who does not need to do research will save you time and stress. So, you can speed up the process by using a lawyer.
They Handle Your Creditors
If you’re considering bankruptcy, your creditors may have contacted you several times. This is stressful and can make you dread answering the phone or reading your mail. However, you will no longer receive letters from creditors when you hire a bankruptcy lawyer because your attorney will contact them on your behalf.
Having an attorney on your side will significantly reduce your stress levels. You only need to share your lawyer’s contact information with your creditor if he calls after hiring your lawyer. After that, there should be no further contact with them. Attorneys communicate with your creditors on your behalf. They won’t harass you and will take action to stop it from others.
It Will Save You Money
You may think hiring a lawyer will worsen your challenging financial situation. However, in the long run, hiring a bankruptcy attorney will save you money instead of costing you more. Here are some reasons.
First, a lawyer will help you get the court outcome. In second place, a lawyer will help you get through the bankruptcy process more quickly than you would if you did it yourself.
Your attorney will only make costly mistakes that could delay your case or even cause it to be dismissed, resulting in delays or even dismissal because you won’t have to research everything before taking action. Getting a lawyer is expensive, but it is well worth the cost.
It Is More Likely That They Will Succeed
Especially if it’s your first time declaring bankruptcy, bankruptcy lawyers already know all the tricks and insider tips to succeed; you won’t. Your lawyer’s knowledge of the right language might sway the court. Your lawyer can also help you create a compelling and insightful response tailored to the judge’s history, experience, and understanding.
Getting up to speed on everything a bankruptcy attorney knows about the field can make a big difference in success. First, think about how long they’ve been practicing bankruptcy law. Then, compare that knowledge base with what you could pick up from your research on the Internet over a few months.
A resourceful bankruptcy attorney’s experience, knowledge, and talents are immeasurable. With the proper knowledge of the process, a dedicated attorney will handle your case with care and make the process quick and easy.
It Is Unlikely They’ll Commit Fraud
Because you are trying to resolve your debt, not make it worse by ending up in jail, you would never intentionally commit bankruptcy fraud. It is easy to make a critical error when declaring bankruptcy, even if it is unintentional. The court may consider that fraud. An experienced bankruptcy attorney makes sure you avoid bankruptcy fraud.
The lawyer will help you list your assets correctly, ensuring you’re not hiding any money from the court. In addition, they will ask you pertinent questions. The lawyer wants to make sure your assets are considered. Hiring an attorney to handle the details is the best way to avoid getting into trouble, even with unintentional fraud.
An Experienced Bankruptcy Attorney Provides Peace of Mind
It can be overwhelming and stressful enough to go through the bankruptcy process without increasing your stress level. With your financial difficulties, you already have enough to deal with. You can take the burden off your shoulders and let an experienced and knowledgeable lawyer guide you through bankruptcy.
It has been a long road to financial stability for you, but you have already made the first step. A bankruptcy attorney will take care of the rest. With a bankruptcy lawyer on your side, you’ll feel more at ease knowing that the case will be handled correctly and that you won’t make any mistakes that will further harm your financial situation.
Your attorney will be supportive throughout the entire bankruptcy process and ensure you understand that filing for bankruptcy does not mean you are a bad person. Bankruptcy is not an easy solution, but it is an option that is viable if you know how to get through it. Get the expert help you need from Bankruptcy attorney Charles Grainger.