Individuals who try to file for bankruptcy without hiring a personal bankruptcy lawyer are similar to an individual trying to perform surgery on himself instead of allowing a surgeon to help resolve your medical issue. That may sound like an exaggeration. However, the point of the statement is to help you understand why you should never declare bankruptcy without first consulting with an experienced bankruptcy attorney. Due to recent changes in the bankruptcy law, it is important to hire a lawyer so you will know whether you qualify for bankruptcy under the new laws.
Why Choose A Personal Bankruptcy Lawyer?
If your debt is a crippling financial reality for you, you may be tempted to hire the first lawyer you speak with. However, it is important that you do not hire a lawyer that represents a variety of clients. You want to make sure that the lawyer you hire specializes in bankruptcy law. A bankruptcy attorney will have handled many types of personal bankruptcy cases. In addition, a bankruptcy attorney stays informed of changes in the bankruptcy code and how these changes affect clients.
Do You Really Need To Declare Bankruptcy?
Even though you may be struggling financially, are you sure that bankruptcy is the best option for you? A consultation with a personal bankruptcy lawyer will inform you of other debt relief options such as debt counseling. The lawyer may be able to provide you with alternatives to what could be a lengthy and complicated court process.
Once you hire a bankruptcy lawyer, you will no longer have to worry about the legal aspect of your case. But, you should still take the time to research the filing process and ask the lawyer questions if necessary.
Also ask the lawyer about fees related to your case. Your attorney fees could vary depending on the type of bankruptcy you file. Most will accept a retainer fee so the petition process can begin, however, you may have to pay the entire fee before the petition is filed.
When choosing a personal bankruptcy lawyer, do not hire a lawyer simply because he or she is offering the lowest cost. Check references and do your due diligence before selecting a bankruptcy lawyer in your area. The lawyer you hire should work to find a beneficial financial resolution for your case.
Are you considering filing for personal chapter 7 bankruptcy? Contact us for a free consultation.