In many states, the law does not require you to hire a bankruptcy attorney when filing for personal bankruptcy. However, you will want to consider seeking out these legal services even if you are not required to do so. This is because there are several ways in which having a bankruptcy lawyer on your side can prove beneficial. Continue reading below to learn more about three of the many benefits you will enjoy when choosing to hire a bankruptcy attorney to represent you.
#1: Ensure You Are Choosing The Best Debt Relief Option For Your Specific Situation
All too often, individuals simply assume that filing for bankruptcy is their only option for getting out of debt. However, there are many different debt relief options available, including several different types of personal bankruptcy relief. Which of these options is right for you will depend upon a variety of factors including your current income, the type of debts you have, and what assets you have available. When you hire a bankruptcy attorney, this attorney will carefully examine your financial situation and recommend the course of action that is most likely to help you resolve as many of your debts as possible.
#2: Get Help Protecting Your Assets
Many people believe that filing for personal bankruptcy has to mean losing all of their assets. However, bankruptcy laws do allow for many assets to be protected even when asking for your debts to be discharged. In order to make sure that as many of your assets as possible are protected, you will need to have a clear understanding of asset protection laws. Hiring a bankruptcy attorney to represent you will ensure that you have access to the knowledge you need in order to protect important assets such as your home or vehicle.
#3: Ensure You Are In Compliance With All Court Requirements
The process of obtaining a bankruptcy ruling can take months or even years to complete. During this time, you will need to remain in compliance with all court requirements in order for your debts to be successfully discharged. This can include things such as completing credit counseling classes and making scheduled payments to specific creditors. Working with a bankruptcy attorney will help to ensure that you are aware of and in compliance with all court orders in your case. This will ultimately improve your chances of successfully getting the debt relief that you need in order to enjoy a financial fresh start.
For more information, contact a bankruptcy law agency in your area such as Martinez Law Firm.