Facing a possible bankruptcy is terrifying. However, in cases where debt has become insurmountable, there may be no better choice. Good people fall on hard times, and tackling severe financial problems head-on can be stressful and embarrassing. Feelings of shame often deter people from seeking legal assistance for personal or business crises, but helping people reclaim control over their financial health is the reason bankruptcy laws exist. It is imperative that you understand your legal rights, and you deserve individualized care and attention to your situation. Do not be ashamed to ask for legal advice from a qualified bankruptcy attorney. Here are three essential services that your lawyer will provide.
Make the Decision To File
Overwhelming debt can severely destabilize a family or business. Bankruptcy may seem like the only way out, but there could be a better solution to your money problem. After analyzing your financial situation, a Rockville bankruptcy lawyer will inform you if alternative debt-relief programs are available to you, which can prevent a bankruptcy filing and help you in your financial recovery. If bankruptcy is your best option, an attorney will assist you in determining the appropriate chapter and provide representation moving forward.
Receive Guidance Through the Bankruptcy Process
The bankruptcy process can be daunting for people without in-depth knowledge and understanding of bankruptcy laws and court processes. From deciding when to file and negotiating with creditors to keeping up with deadlines and attending court hearings on your behalf, a qualified bankruptcy attorney will bring knowledge, experience and legal expertise to guide you through the complicated process. Additionally, courts have specific rules and expectations, and having competent legal counsel in your state can help you avoid making potentially expensive mistakes.
Get Help Preparing and Filing Court Documents
The paperwork required for filing bankruptcy is extensive, and if done incorrectly, it may result in delays or even denial. Bankruptcy attorneys use specialized software to organize, prepare and file court documents so you do not have to do it yourself. Once you provide all the pertinent financial information, your lawyer will review the details of the case with you to guarantee a truthful and accurate filing to the court. Having a lawyer prepare the paperwork increases the potential for acceptance of your plan by the creditors.
There are many reasons you could land in the position of considering bankruptcy. Medical emergencies, job losses, and economic fluctuations are all contributors to severe unexpected financial problems for many people. Understanding bankruptcy laws and processes will help you make the best of a terrible circumstance. To ensure your bankruptcy experience saves you time, money and your sanity, consider hiring a competent and capable attorney to handle your case. Let your lawyer be your champion and have peace of mind knowing that legal professionals are protecting your interests so you can focus on rebuilding your life.