Why Hiring A Bankruptcy Attorney Is The Right Thing To Do

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financing options after bankruptcy

Some people think that after you file for bankruptcy that they won't be able to qualify for any sort of credit for many years. Is this true? Would it be possible to purchase a car with an auto loan or get a mortgage for a house? I put together this blog to provide others with the information that I have worked hard to find. As I started the bankruptcy process, I was very worried about what it meant for my financial future. Fortunately, I have recovered and have learned a lot along the way. Hopefully, this information will prove helpful for you.


Why Hiring A Bankruptcy Attorney Is The Right Thing To Do

3 August 2021
 Categories: , Blog

Most people tend to think that filing for bankruptcy is a desperate move, but it isn't. The reality is that it gives you a second chance to rebuild your finances while being protected by bankruptcy laws. So, if you feel that your liabilities have exceeded your assets and income, you should file for bankruptcy. 

Other reasons for filing for bankruptcy include unemployment, marital problems, overextended credit, and large medical expenses. Whatever the reason is, you shouldn't file for bankruptcy alone. You need the help of a bankruptcy attorney to make the process easier, faster, and more successful. 

Peace of Mind

Bankruptcy proceedings can be stressful and hectic. If you decide to file for bankruptcy alone, you'll realize sooner than later that you can't handle everything yourself. Hiring an attorney is the only way you'll have peace of mind. 

Bankruptcy is a complex legal matter that lawyers understand the nuances of. So, instead of going into this legal process blindly, you can hire a bankruptcy lawyer to offer guidance and support. This could prevent additional anxiety or fear regarding the bankruptcy process. 

Protection from Creditors

A bankruptcy lawyer can come in handy if you're in financial turmoil and are afraid of losing your assets. During bankruptcy, most creditors will be earnestly trying to collect their debts. 

Luckily, filing for bankruptcy puts an automatic hold on debt collection. You no longer have to worry about debt collectors harassing you. Upon filing for bankruptcy, all the communication from the debt collectors will be re-routed to your attorney. 

Stay on Top of Your Paperwork

As you'd expect, filing for bankruptcy involves a large amount of paperwork. You have to fill out all the paperwork correctly for the process to move smoothly. Missing any details means that the process will become more complicated. 

Moreover, you'll be required to gather a lot of supporting documentation to go along with your bankruptcy applications. The entire process can be pretty hectic, which is why you should hire a bankruptcy lawyer to attend to such matters. 

Knowledge of Bankruptcy Options

When filing for bankruptcy, your attorney will help you assess your options. Remember, you can file for Chapter 7 Bankruptcy or Chapter 13 Bankruptcy; each has its advantages and disadvantages. Your bankruptcy attorney will help you choose the right option depending on your situation. 

Filing for bankruptcy isn't always an easy process. A bankruptcy lawyer can help you through the entire process. The attorney will make your life easier and help you get the peace of mind you deserve.

For more information, reach out to a bankruptcy attorney in your area.