One of the most common questions related to bankruptcy lawyers is:
Do I need a bankruptcy lawyer?
No matter your situation, the short answer is yes, absolutely and always.
There are several reasons that a bankruptcy lawyer should be your first stop if you’re considering bankruptcy. Here’s what you need to know.
Bankruptcy Lawyers Know the Laws
You can read up on a lot of useful information online, but having someone on your side who knows the laws and the bankruptcy process is going to be much more beneficial. They will be able to help you determine if bankruptcy is the right option, which type of bankruptcy to file, and other details of getting your financial life back on track.
Lawyers will also be able to ensure that your creditors honor the stay that is put in place once bankruptcy is filed. If anyone tries to collect on your debts during this time, you can inform your bankruptcy lawyer and they will take care of it.
Your Lawyer Can Handle the Court Process
The court process involved in filing bankruptcy isn’t complicated, but it does involve several steps and a lot of paperwork. This can become tedious and time-consuming, not to mention confusing if you don’t know what all they want to see. With a bankruptcy lawyer on your side, they’ll handle everything and leave you to focus on getting your financial life back on track.
This includes filing the paperwork, attending the creditors meeting, and taking care of the rest of the process. Usually, you only need to show up for the discharge hearing. And if there’s something else required of you, your bankruptcy lawyer will let you know.
Bankruptcy Lawyers Know What Can and Can’t Be Eliminated
There are some debts that cannot be eliminated through bankruptcy, such as most student loans. Then, there are certain types of debt that aren’t allowed in one type of bankruptcy filing or another. Your lawyer will be able to help you figure out what debt you can eliminate through bankruptcy and which type to file based on your needs. They can even advise you on how to proceed if you’re unsure.
In bankruptcy, you cannot discharge:
- Tax debt
- Spousal support or alimony
- Child support
- Government-funded student loans
Plus, what you can eliminate may depend on whether you file Chapter 7 or Chapter 13. The former is more common for consumers, but many people use Chapter 13 when they can’t qualify for Chapter 7. Again, this is where your lawyer comes in handy.
All in all, having a bankruptcy attorney on your side is going to make the process easier, more efficient, and less stressful for you. It’s going to give you a dedicated expert that you can rely on to help you through this tumultuous time and hopefully come out better on the other side. If you’re considering filing for bankruptcy, reach out to an attorney for a consultation today.