3 Reasons You Need a Bankruptcy Lawyer

Filing for bankruptcy can be a scary and intimidating experience. You may not be sure what exactly you are in for, and the stigma surrounding the process may make you hesitant to reach out for help. What you need is an expert and an advocate on your side who can walk you through the process and ensure that this stressful process is resolved as easily as possible. What you need is a bankruptcy lawyer. We understand that you may be hesitant to hire an attorney since your financial situation is already strained. However, the following article is devoted to explaining why hiring bankruptcy lawyers in Seattle, WA, is the best course of action and will ultimately lead to the most positive solution.

3 Reasons You Need a Bankruptcy Attorney

There are many reasons why you need to consult an attorney before starting the bankruptcy process. From confirming that you should file to determining which type of chapter you should file, a bankruptcy attorney can lead you down the road to a positive solution. Check out our top 3 reasons why you need a bankruptcy attorney:

  • Reason #1: A bankruptcy attorney will help you to determine if you should file for bankruptcy. While it may seem as if you are out of options when it comes to debt solutions and that your only course of action is to file for bankruptcy, there is always the chance that another option is better suited to your situation. Since you are probably unaware of your options, a bankruptcy attorney should always be consulted before you make a decision. In many cases, he or she can direct you down a better path that will help you to more effectively manage your debt. In all cases where your debt has become unmanageable and you have no income to pay down your debts, a good attorney will advise you to file for bankruptcy.
  • Reason #2: A bankruptcy attorney will help you determine which chapter to file for. Once the decision has been made to file for bankruptcy, you must then determine which chapter of bankruptcy is most beneficial for your situation. For those who have no income and are unable to pay down debt and those who have no viable assets such as a home or a vehicle, it is typically recommended that you file for Chapter 7 bankruptcy. Chapter 7 bankruptcy involves a total liquidation of any assets. As a result, all debt is absolved (with the exception of back taxes, student loans, and child support). For those who have viable assets to lose and a steady source of income, it is often recommended that debt is restructured so that it is more manageable to make payments. This is known as a Chapter 13 bankruptcy filing. Depending upon your situation, there may be other options available as well. Your bankruptcy attorney will be able to look at the details of your finances and determine the best course of action for you to take.
  • Reason #3: A bankruptcy attorney will increase your odds of acceptance. While it is certainly true that anybody can file for bankruptcy regardless of whether or not you choose to hire an attorney, your odds of acceptance greatly increase when you consult legal counsel. When it comes to filing for bankruptcy, there is a lot of paperwork involved in the process. Just like any other court proceeding, if you do not fill out the paperwork correctly or you fail to report certain information, you run the risk of being denied. A bankruptcy attorney will do all of the paperwork for you, and will lead you down the path to a successful filing. A bankruptcy attorney is knowledgeable in the intricacies of bankruptcy law, and will greatly increase your odds of acceptance.