Is a Bankruptcy Lawyer Worth it?

A bankruptcy lawyer can make sure that you file correctly and protect you against an aggressive creditors that may attack your filing.

If you have a hefty amount of debt that you cannot foreseeably pay off over the next five to ten years then you are likely considering filing for bankruptcy. Most people know when they get to the point that bankruptcy is the only answer, but they do not know how to properly move forward. Many people are tempted to file for bankruptcy on their own because of the costs associated with filing for bankruptcy. However, this is not always the best option because the law is intricate and there are some things about debtor law that you are not aware of. If you are questioning the need for a bankruptcy attorney you may want to keep reading.

Filing Has Changed

One top reason to consider hiring a bankruptcy lawyer is because there is a lot more to filing for bankruptcy. The new bankruptcy system is tough to difficult for someone that does not know the ins and outs of the court. It can actually be hard to file for bankruptcy and could result in your request actually being denied by a judge. Even if you are approved, you may end up owning your non-secured debts even after the bankruptcy which will defeat the purpose of filing.

Help Identifying Bankruptcy Chapters

Along with the new filing system are new bankruptcy chapters. When you file bankruptcy you can now choose to file Chapter 7, Chapter 11, or Chapter 13. A bankruptcy lawyer will sit down and talk about all of your choices and then help you figure out which chapter you qualify for and which will benefit you the most in the long run. If your home is going to be lost to foreclosure they can help you proceed from there as well.

Help with Creditors

One aspect of filing for bankruptcy includes meeting with creditors so that they can ask questions about your debt and why you are filing bankruptcy. You want to have a bankruptcy lawyer with you during this process because they can ensure that the questions are fair and not designed to trick you. They also will be able to dispute debts when you are front of the judge that the creditors still want paid for even after the bankruptcy. This is the most vital part of the entire process because you do not want to file for bankruptcy and still owe some of your creditors at the end.

Protection against Cruel Creditors

Some creditors will try to claim fraud if you file bankruptcy because they want to make sure that you cannot avoid paying them. Even if you had unexpected bills, a medical emergency, or lost your job they may attempt to attack you. You need a bankruptcy lawyer to stand up for you and insure that you are able to get their debt included in your bankruptcy filing.