If you are planning to file for Chapter 7 bankruptcy in order to overcome your insurmountable debt, the last thing you may think that you can afford is to hire a bankruptcy attorney to represent you. However, despite your current financial troubles, seeking legal representation is always going to be in your best interest when filing for bankruptcy. Read on to learn more about three of the reasons why you should hire a bankruptcy attorney despite the fact that you are experiencing financial difficulties.
1. A Bankruptcy Attorney Can Help You Explore All Of Your Debt Relief Options
Filing for Chapter 7 bankruptcy is just one of the many debt relief options that may be available to you. You may also find that a debt consolidation loan or Chapter 11 or Chapter 13 bankruptcy also meets your needs. In fact, in some cases, filing for Chapter 7 bankruptcy may not be the most effective way to deal with your debt. That is why you can count on your attorney to take the time to explore all of your options with you so that you can move forward with confidence knowing that you have selected the most appropriate and beneficial solution for your specific circumstances.
2. A Bankruptcy Attorney Will Help You To Comply With All Court Proceedings
There are a variety of regulations and deadlines associated with a bankruptcy case. A failure to comply with all regulations and court mandates regarding your case could result in your petition for bankruptcy relief is denied. Without the experience and knowledge of a reputable bankruptcy attorney, it can be very difficult to keep up with all of the tasks that are required of you in order to obtain a bankruptcy settlement. This is perhaps the most important reason to retain the services of an attorney when filing for Chapter 7 bankruptcy.
3. A Bankruptcy Attorney Can Help You To Protect Your Assets
One of the biggest drawbacks to filing for Chapter 7 bankruptcy is that some of your assets may be subject to seizure in order to satisfy as many of your debts as possible. The good news is, it is often possible to protect many of your most important assets with the help of a bankruptcy attorney. However, there are several laws governing what assets can be protected, as well as the value that each of these protected assets can have. A bankruptcy attorney will be able to help you to determine which assets can be protected and to file the necessary paperwork with the court to prevent these assets from being seized by your creditors.