Bankruptcy can be a frustrating and messy process if not handled correctly. Hiring an experienced attorney can make the process significantly easier and help ensure you receive the best financial outcome. The success rate of a bankruptcy case without legal counsel is extremely low when compared to the success rate with legal representation. Attorneys can notice right away if there are any issues, and work with you to resolve them quickly. They help you determine what kind of bankruptcy you should file, assist during your case, and continue to work with you after it has been completed.
With the help of your attorney, you will be able to complete a “means test” to know if you qualify for a Chapter 7 or Chapter 13 bankruptcy. The knowledge your attorney brings to your case can help determine what is best for you. Depending on the situation, your attorney may be able to apply exemptions to protect your assets and figure out exactly what debts should be discharged.
There is a tremendous amount of paperwork that must be filed during the bankruptcy process—a lot of which has to do with disclosing your finances. Your bankruptcy attorney will know what assets to disclose and how to value them. Your attorney will also know the best timing for making these disclosures, as they may impact your case. Your case might be more complicated than anticipated, and a competent attorney will be there to guide you through it.
There are other instances where an attorney can assist you during the bankruptcy process. For example, a situation might arise in which creditors attempt to violate the automatic stay and still try to collect money. A bankruptcy attorney can handle this situation, ending the harassment and negotiating in your best interest and to try and keep important assets.
After your case has been completed, your attorney will stick with you and help you come up with a plan for rebuilding your finances. They can use their wealth of knowledge to create a way for you to move forward.
With Parker & DuFresne, you can work with our trusted team of lawyers that will dedicate their time to helping you. Contact us today, and we will work with you and assist with your financial situation.
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