3 Initial Help A Bankruptcy Attorney Can Give You
You may not realize the many benefits of hiring an attorney especially if it’s your first time to file for bankruptcy. When in fact, you are getting a lot of advantages the moment you choose to conduct an initial consultation and more during the legal process and even after.
During an initial consultation, a bankruptcy attorney can already give you three important help towards a successful bankruptcy filing as follows:
1. A bankruptcy attorney helps you determine if filing for bankruptcy is the best option for your financial crisis. How does he/she do so?
- An attorney helps you clear your mind by discussing in details the rational reasons why you should or should not file for bankruptcy.
- A lawyer makes sure that you are on your right state of thinking and that you are emotionally stable as you are making the decision.
- An attorney helps you come up with a final decision whether to file or not by discussing the pros and cons of bankruptcy and what might happen along the process.
- A lawyer gives or suggests other options to manage your debts if bankruptcy is not for you.
2. A bankruptcy attorney determines what type of bankruptcy is more beneficial to you (e.g. Chapter 13, Chapter 7).
- Through the professional in-depth knowledge and skills of an attorney, he/she can surely determine what bankruptcy chapter best suits the nature of your case after he/she looks into the full details.
- An attorney considers first your goals before discussing with you a strategic way to achieve them -- whether you don’t want to lose some properties (e.g. vehicle, real estate, jewelry) or maybe you aim for an immediate method to erase your debts.
- An attorney considers as well your ability to pay your debts. If your non-exempt assets are not sufficient to pay all your debts as per Chapter 7; you might want to opt for Chapter 13 which you’ll pay your debts through a repayment plan.
3. A bankruptcy attorney increases your chance of filing for bankruptcy to be approved by the court. Anybody can file a bankruptcy petition but not all are fortunate to get approved by the court.
- Consulting a legal counsel is proved to give you higher chances to pursue bankruptcy.
- Since filing for bankruptcy is quite tricky because you need to fill out a bunch of paperwork, you need an expert to guide you to avoid mistakes and provide false information that might lead to the suspension of your petition.
- You have to provide relevant documents such as financial statements, income statements, papers regarding your assets and properties, etc. Your attorney can process and double-check all the paperwork.
There you have it! These three initial help from a bankruptcy attorney
But if you ever need help to find relief from your debts, find the right bankruptcy attorney. Visit us at 6802 Paragon Pl, # 410, Richmond, VA 23230 or contact 804-256-2918.
Conway Law Group - Richmond, VA
6802 Paragon Pl, #410 Richmond, VA 23230
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