Do I need a bankruptcy lawyer?
Can a bankruptcy lawyer help me?
A bankruptcy lawyer will definitely help your bankruptcy situation. Filing for bankruptcy can be very daunting and stressful. A qualified bankruptcy lawyer has plenty of experience and the ability to assess your unique situation.
There are two main types of bankruptcy: voluntary and involuntary. Voluntary bankruptcy simply means that an individual, company or corporation in debt makes the decision to file for bankruptcy. Involuntary bankruptcy, a much trickier situation, occurs when a debtor’s creditors file a petition of bankruptcy against the debtor. In either scenario, you should hire a bankruptcy lawyer who can provide the correct knowledge and experience to evaluate your case.
You are expected to understand and complete all facets of the bankruptcy process, with our without a bankruptcy lawyer. You are also assumed to know the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure. While it is not required to hire a bankruptcy lawyer, it is extremely beneficial to have a strong attorney by your side to manage your case.
What does a bankruptcy lawyer do?
An experienced bankruptcy lawyer will fill out the required paperwork, make contact with all parties involved in your case, and answer all of your questions along the way. In addition, a bankruptcy lawyer will make sure that you are on time to your court dates, your deadlines are fulfilled, all required tasks are completed, and that all actions are responded to promptly. If you make any mistakes, you may face serious penalties such as having your bankruptcy case dismissed, having a discharge from bankruptcy denied by the court, or even losing assets that you could have kept after the case. All in all, a bankruptcy lawyer has the power to completely change your case.
Hiring a Bankruptcy Lawyer
Filing for bankruptcy is not as simple as filling out a stack of forms. It requires a thorough step-by-step process, strict deadlines, official documents, and incredible scrutiny to detail.
A bankruptcy lawyer is able to evaluate the big picture while taking care of the tedious details. However, the most important feature of a bankruptcy lawyer is the ability to prevent mistakes that may lead to detrimental penalties.