When an individual files for bankruptcy, the experience can be both scary and intimidating. Federal and state laws are involved in the legal process, and the procedure ranges from simple to extremely complicated. In many situations, the best recourse is to hire a good bankruptcy attorney. They walk their clients through the different steps and help ensure there are no major issues to resolve. Lawyers of Distinction understands the bankruptcy laws, and their experience enables them to handle the process smoothly and efficiently.
Assessing the Financial Situation
A bankruptcy attorney has the ability to extensively examine any financial situation. A good lawyer will not rush when reviewing an individual’s financial situation to ensure no detail is missed. There will give expert advice regarding which option is best for the situation. If the individual decides to file bankruptcy, the attorney will provide them with a detailed description of their rights and responsibilities.
The Complications of the Legal Maze
The codes and regulations of the bankruptcy process are an extremely complicated legal maze. Most people are overwhelmed by the process. A bankruptcy attorney explains the regulations as they apply to each specific case. The individual has a guide to help them through the process one step at a time. An excellent option is contacting Lawyers of Distinction.
The Error-Free Petition
There is a lot of paperwork involved when filing a petition for bankruptcy. It is critical everything related to the individual’s financial matters is correctly documented in the final petition. A lawyer makes certain all the required information is documented in the correct place in the petition. Since the U.S. Department of Justice inspects every case, any filing found to be fraudulent constitutes a felony. A bankruptcy lawyer ensures the petition is as accurate and precise as possible.
Protection from the Creditors
A bankruptcy lawyer will stop creditors from harassing their clients. This includes debt collectors, collection agencies, etc. A good attorney will explain what type of behavior by the creditors is considered to be abusive. This definition is a part of the governing rules defining an individual’s rights throughout the filing process.
The Experienced Counsel
When an individual hires someone familiar with the rules, laws, and process of bankruptcy, it is easier to make the most important decisions. This helps ensure the debts are settled as quickly and efficiently as possible. A good attorney can be relied upon to provide the best legal counsel and provide the individual with the knowledge they have made the right decisions.
The Peace of Mind
Perhaps the best reason to hire an attorney prior to filing for bankruptcy is the peace of mind. It can be incredibly difficult for the average person to accomplish everything by themselves. Hiring an attorney saves the individual time, money and a lot of headaches. Bankruptcy is complex, and no individual should attempt to navigate through this complex legal matter blindly. Sometimes the support, advice, and guidance of a good bankruptcy lawyer is necessary and can help alleviate most of the fear and anxiety.
Whether or Not to Hire a Bankruptcy Lawyer
The decision an individual makes between hiring legal representation, or representing themselves in a bankruptcy case must be considered carefully. This decision may have an impact on the way the court handles the case, the final outcome, and the amount of debt discharged. Some individuals choose to hire a lawyer because they believe this will contribute to the success of their case. Others choose to file by themselves and represent themselves in court. Technically, there is no right or wrong answer. It is crucial the individual understands there can be serious ramifications when they choose to represent themselves.
The Potential Issues
There are people who file bankruptcy without the assistance of a lawyer, and successfully navigate the legal process. Prior to making this decision, the individual must consider the potential issues. Improper filing or inaccuracies can cause the bankruptcy court to toss out the case. The judgment of the court may not be the best possible outcome for the individual. Having to make amendments or additions to the petition can result in additional and expensive fees. If the individual does not have a good understanding of the legal terms, they can easily make a wrong choice, and receive a less than desirable judgment. The individual may also face unnecessary anguish and stress from their efforts to handle everything by themselves.
The Legal Background
Most individuals with a strong legal background can successfully represent themselves in a bankruptcy court. The process is much more difficult for anyone without a good understands of the laws. The decision to hire, or not hire an attorney is incredibly important, and all factors must be considered. The choice must be made before the individual can successfully handle their debts.