If you've considered filing for bankruptcy, there is a high chance you'll be debating on whether or not to hire a bankruptcy attorney. Bankruptcy laws are highly intricate and a small error could have a big impact on the determination of the outcome. A bankruptcy lawyer is familiar with the laws and processes. Filing for bankruptcy could be a way out of your financial owes but should be seen as a last resort as it can get expensive. In this post, we're going to highlight the benefits of hiring a bankruptcy attorney.
Improves Chances of Eliminating Debt
According to a report that was published by the United States Bankruptcy Court for the Central District of California, those individuals representing themselves in bankruptcy had a lower success rate of eliminating debt compared to those that were being represented by a bankruptcy attorney. This is also the case for Chapter 13 as those being represented with lawyers are at a higher chance of reaching a successful outcome.
Help Decide if Bankruptcy is the Best Option
As we've already mentioned, declaring bankruptcy should be the last option. There could be alternative solutions that will not seem that obvious to you as they would to a bankruptcy lawyer. Any reputable attorney will start by reviewing your finances and providing better options from a legal standpoint. They can talk with creditors on your behalf to come up with an agreement on how you'll pay for the debt without necessarily declaring bankruptcy.
Help Choose The Right Type of Bankruptcy
The attorney will look at your financial situation before recommending the appropriate bankruptcy option that can be used to discharge the debts. The main types of bankruptcy are Chapter 13 Bankruptcy and Chapter 7 Bankruptcy. It is the work of an attorney to help you choose the right type of bankruptcy that will be ideal for your situation.
Helps in Eliminating Eligible Debts
Since the attorney might have dealt with similar cases in the past, they'll be able to quickly identify the debts that can easily be discharged. They'll look past the statute of limitations when searching for dischargeable debts.
Any legal case will involve a lot of paperwork and the same can be said for bankruptcy law. There is a Bankruptcy Code and could vary from one jurisdiction to another. A bankruptcy attorney is conversant with bankruptcy laws, courtroom procedures, filing, and the timeframes for such cases.
You Save Time
Going through bankruptcy is already stressful enough and the last thing you'd want to figure out on your own are the specific details. A bankruptcy attorney has systems in place that can be used to expedite the process while ensuring there are no errors. The attorney has established relationships with trustees, judges, and all the parties that are involved in the process which makes communication easier.
To Sum it Up
Peace of mind is important when you intend to declare bankruptcy. Working with a bankruptcy attorney minimizes the chances of losing your assets or being arraigned in court.
Need Help with Bankruptcy?
If you are faced with needing to file a Bankruptcy and need an experienced attorney, please contact Charles W. Daff. He can be your advocate while you go through the process, ensuring you know your rights and are well-represented by his legal team. Call us for more information today at (657) 218-4800. If you reside in Orange County, Riverside County, San Bernardino County or Los Angeles County and are considering filing for bankruptcy, contact Charles W. Daff, Bankruptcy Attorney today.