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    Home»Law»When to take help from a bankruptcy attorney?

    When to take help from a bankruptcy attorney?

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    By Thomas on June 21, 2022 Law

    Bankruptcy is a legal procedure under the federal court system to help people and businesses get rid of their outstanding debts. Bankruptcy can provide financial relief to the debtor and gives you an opportunity to start afresh. The main purpose of filing for bankruptcy is that it provides you protection from creditors and offers you relief from all or a part of the outstanding debts. Filing for bankruptcy is a complicated procedure. Therefore, it is best to get help from a bankruptcy attorney who will guide you through the entire process.

    You can take the help of a bankruptcy attorney in the following cases:-

    Bankruptcy planning: While planning to file for bankruptcy, you should first consult an attorney who will evaluate the situation and check if you need this to achieve financial peace. They might suggest some alternative to it. In case they recommend going for it, they will decide which type of bankruptcy will best suit your situation. They will carefully consider your needs and wants and recommend whether to file chapter 7, 13, or 11 bankruptcy. 

    Making key financial decisions: Now that you know which type of bankruptcy you are filing, the bankruptcy attorney will help you make key financial decisions. You might not be able to do it on your own. For example – if you file chapter 13 bankruptcy, the attorney will work with you to frame an ideal payment plan that you will be able to render. The attorney has extensive knowledge and understanding of federal bankruptcy laws, which will ensure the right decisions for you.

    Important paperwork and documentation: Bankruptcy involves complicated paperwork and documentation. You will not be able to do these tasks without having expert legal knowledge. This is when you need the help of a bankruptcy attorney. While filing for bankruptcy, the attorney will gather all the evidence and prepare the necessary paperwork to meet the necessary deadlines. 

    Court representation: If your bankruptcy reaches court hearings, it will include a meeting with your creditors. This is when your attorney needs to be present to represent you at these procedures and make sure that your best interests are taken care of. If the creditors challenge the filing, then having an attorney with deep knowledge of court procedure and bankruptcy law will help you out of the situation. 

    Bankruptcy can be overwhelming. Having an attorney will lessen your worries. Even after the filing of bankruptcy, the attorney will help resolve post-bankruptcy violations, if any. They will also guide you on rebuilding credit. A good attorney will surely help you regain your financial footing. 

    Thomas
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