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Bankruptcy is a legal proceeding in which you put your money in your pants pocket and give your coat to your creditors” – Joey Adams

A bankruptcy attorney provides you with the legal advice required for discharging your debts successfully. If you appoint an attorney for your case, he/she can help you greatly. Are you still wondering whether or not to hire anattorney? If no, then have a look at this article right now.

Logic behind hiring a bankruptcy attorney

Have you consulted an attorney before filing bankruptcy? No? Want to know the reasons behind hiring an attorney? Then have a look at the below-given points:

  1. Gives protection from vexation by creditors – When you are a defaulter, it is obvious that the creditors and collection agencies will call you. Well, this is quite annoying! A bankruptcy attorney deals with your creditors and asks them to freeze harassing collection calls on your behalf. This gives you enough time to recover your financial independence.

  2. Helps to maintain a good paperwork – Filing bankruptcy is complicated. It requires a lot of paperwork and documentation. If the details aren’t filled out properly, then it can clog the filing process. An attorney supervises your paperwork, offers you legal advice, and also helps you with everything you need for your application.

  3. Mentors by their experience – Experience does matter. A bankruptcy attorney has handled similar situations, the one that you’re facing now. So, it’s obvious that he/she knows every bit of it. An attorney is an ultimate person who can make you fully prepare for your bankruptcy proceedings.

  1. Grants peace of mind – Get help from an expert to stay stress-free. A lawyer keeps track of every detail of your case and suggests you the ways to proceed. Your bankruptcy attorney is there to help you out of any uncertainty. If you’re struggling with your bankruptcy proceeding, then hire an attorney and gain back your peace of mind.

  1. Assists in filing bankruptcy – You need to consider various rules and regulations before and after filing bankruptcy. An attorney makes you aware of certain things like: (a) which bankruptcy chapter is suitable for you
    (b) which disclosures to make
    (c) what debts you can keep

  2. Acts as a bridge of communication – An attorney forms the link of communication with the bankruptcy court, the trustees assigned by the court and the creditors. He/she helps you have the interactive session with the necessary parties.

  3. Protects from mistakes – Errors can make your bankruptcy case upside down. So, appoint an attorney to secure the protections afforded by the bankruptcy code.

  4. Guides for the 341 meeting – Under Section 341 of the Bankruptcy Code, every person who files for bankruptcy protection has to attend a meeting of the creditors. A lawyer prepares you for the meeting and also makes you aware of the questions that you may be asked in the meeting. 

    Usually, the 341 meeting lasts for 5 to 10 minutes. This meeting is set for at least 21 days. For chapter 7 and chapter 13 bankruptcy, it won’t exceed 40 days or 50 days after you file your case.

  5. Chooses the right chapter to file – A bankruptcy lawyer helps you in choosing the right bankruptcy chapter. He/she will also make you aware of the pros and cons of different chapters in bankruptcy.

  6. Helps in reaffirmation agreements – You may be asked to sign a reaffirmation agreement after filing bankruptcy. A bankruptcy attorney will tell you whether or not you should reaffirm certain debts. 

The ultimate reason

The bankruptcy proceedings are simple yet tough. Things are not so simple as they look like. A lawyer helps you in every part of your case with knowledge and experience. My dear readers always remember that “better (be) safe than sorry.”

Author bio: Patricia Garner is a professional financial blogger. Her articles have appeared in several top-notch websites. When she is not into writing, she loves to visit museums in the country.