if you think that filing for bankruptcy can be as bad as it gets, then you should think again. A bad bankruptcy attorney can cause things to go even worse, turning your situation into a nightmare. But before settling for hiring a lawyer for this matter, you should consider the situation better and see if you really need one.
There are many websites which encourage individuals to proceed into this matter by themselves, but this may not always be the best case. Bankruptcy is a complex concept and once you are involved in it you are not allowed to take even a single step in the wrong direction.
Most of the individuals who have been through this process by themselves have declared that if they had to do it again, they would definitely hire a bankruptcy lawyer. In addition to this, they stated that by going through a lawyer they were able to save a lot of their assets after the filing was completed. But what can a good bankruptcy lawyer can do that you can’t?
Well, let’s start at the beginning – a bankruptcy lawyer will start by going through and studying your records and situation in detail as they can not give you any advice as long as they have not edified your problem. Apart from this, you must see this lawyer as a professional who has experience and is familiar with local laws on bankruptcy filing. As a result, they know how to organize your case to give the court what they look for with the positive outcome on your side.
After revising your situation, the lawyer should advise you on the options that you have available as bankruptcy should be seen as your last resort.
If bankruptcy is still seen as your best option, then your attorney should be able to tell you under which chapter to file the bankruptcy. There are two chapters which are most commonly used – Chapter 7 and Chapter 13. One is focused on reorganizing the way you pay back the debt through lower payments and the other focuses on lifting the debt off your shoulders completely.
But even in the later case, you will be advised that there are some sorts of debts that can not be completely wiped out and in case the majority of your debts are of these sorts, it may be unwise to opt for filing for bankruptcy at all.
Once you have chosen your lawyer who will represent you and assist you through this challenging time, it is important to be upfront and honest because they are the only one who is on your side. Listening to the professional advice they give during this financial impasse could change the outcome your situation and leave you in a better position than if you were to try and handle everything on your own.