Filing for bankruptcy can be a difficult and stressful process. You may be worried about losing your home, car, or possessions. You may also be worried about how bankruptcy will affect your credit score and your ability to get loans in the future. An attorney can help you navigate the bankruptcy process and ensure that you are doing everything correctly. Here are four things these lawyers will do to keep you out of trouble:
Reviewing Your Documents
It's vital to review your documents before you file them with the court. This includes your petition, schedules, and statements. Unfortunately, if you go through these documents without the assistance of a legal professional, you might make a mistake that could result in your case being thrown out or delayed. A bankruptcy attorney can review your documents and make sure they're complete and accurate. This way, you won't worry about making a mistake that could jeopardize your case.
Advising You on Exemptions
One of the most important aspects of bankruptcy is claiming exemptions. Exemptions allow you to keep certain assets, such as your home, car, or basic household items. This means that creditors cannot seize these assets to satisfy their debts. A bankruptcy lawyer can advise you on the exemptions to claim and help you gather the necessary documentation. They'll also ensure that your exemptions are properly filed with the court.
Helping You Complete the Means Test
The means test determines whether you are eligible for Chapter 7 bankruptcy. It involves comparing your income to the median income in your state. If your income is below the median, you automatically qualify for Chapter 7 bankruptcy. If it is above the median, you have to complete a means test to see if you qualify. A bankruptcy attorney can determine whether you qualify for Chapter 7 bankruptcy based on your income and expenses. They'll also help you complete the means test so you can get the bankruptcy relief you need.
Objecting to Creditor Claims
Creditors may try to claim more money than they are owed or use illegal or unfair tactics to collect their debt. They may attempt to garnish your wages, call you repeatedly, try to collect the debt from family or friends, or sue you. If a creditor is harassing you or trying to collect more money than you owe, an experienced bankruptcy lawyer can help. They'll object to these claims and protect your rights.
Filing for bankruptcy can be complicated, but it doesn't have to be overwhelming. A bankruptcy attorney can help you every step of the way. If you want to stay away from trouble and keep your proceedings on track, contact one of these lawyers today to discuss your options.
