These days, it’s not uncommon to find people who are deep in debt with no viable plan for getting out. Fortunately, the federal government has made bankruptcy programs available to debtors to help them get their lives back on track. While no lawyer is required to file bankruptcy, it is highly recommended that debtors have legal help throughout the process. Unfortunately, not having one could be more costly than they think. For those who have thought about going it alone, here’s why that’s not a good idea when it comes to bankruptcy:
• Many debtors remain unaware that there is a qualification process for both Chapter 7 and Chapter 13 bankruptcy. In order to qualify for Chapter 7, a debtor must take a means test to show that their income is low enough to meet the requirements for debt cancellation. If not, they must file for Chapter 13. An attorney will walk debtors through the qualification process and help them figure out which type of petition to file.
• During the bankruptcy process, there’s a lot of paperwork to be done and filed. Not only is this tedious, but it’s also confusing for those who don’t have a legal background. Unfortunately, making the wrong mistake on paperwork can lead to a denial of the petition. Hiring an attorney to help with
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• assures debtors that the paperwork will be done correctly and that they will be well-prepared for their court hearing, increasing their chances of success.
• For some debtors, there are options available like lien stripping and loan cramdowns to help them get even more Debt Relief St. Charles MO. However, most won’t know about these options unless a lawyer explains it to them. In this way, having an attorney present throughout the bankruptcy process means having someone there to make sure that a debtor is able to take advantage of every opportunity that will lead to a better financial future.
Bankruptcy is often a step in the right direction for debtors. However, this is only true when the process is done right, and one way to ensure that happens is to hire an attorney. For those who are ready to move toward debt freedom, visit the website of the Law Offices of Steven K. Brown to discover more about how the right attorney can bring greater assurance and peace of mind for those on the road to financial recovery.
