Bankruptcy Lawyer – If you are considering filing for bankruptcy, you should hire an experienced bankruptcy attorney to help guide you through the process. Bankruptcy laws are incredibly complex. A lawyer makes it easier, faster and more successful to declare bankruptcy.
Although you are allowed to file for bankruptcy yourself, this is often a costly mistake. In this article, you will learn ten reasons why you should hire a bankruptcy attorney.
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Bankruptcy Lawyer
1) Hiring a lawyer increases your chances of successfully getting out of debt. An annual report published by the US Bankruptcy Court for the Central District of California shows that self-represented (pro se) individuals have significantly lower bankruptcy success rates than those represented by an attorney. In Chapter 13 bankruptcy, attorney-represented debtors are more than ten times more likely to succeed than self-represented debtors.
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2) An attorney can help you decide if bankruptcy is right for you. It is important to evaluate and understand all the options available to you when faced with overwhelming debt. Although bankruptcy may seem like your only option, an attorney may have a better solution for managing your debt without declaring bankruptcy.
3) You don’t know which bankruptcy option is best for your situation. An experienced bankruptcy attorney will review your financial situation and explain your bankruptcy options. The two most common types of personal bankruptcy in Wisconsin are Chapter 7 bankruptcy and Chapter 13 bankruptcy. The attorneys at Winn at Love, LLC can help you determine which type is best for your current situation and guide you through the entire process.
4) A bankruptcy attorney will assist in the discharge of all eligible debts. A bankruptcy attorney knows what debts are dischargeable and what is the best type of bankruptcy to discharge your debts. For example, an attorney can identify and eliminate debts that exceed the collection statute. You’ll also save money if you pay your debts in full and have no debt after bankruptcy.
5) Experience is key to success. Do you know the US Bankruptcy Code? Do you know the Wisconsin District Court bankruptcy laws? Do you know which assets are exempt from bankruptcy? Filing for bankruptcy requires knowledge of federal law and local case law. An experienced bankruptcy attorney has worked on hundreds of cases and understands the intricacies of the process. A bankruptcy attorney is familiar with applicable laws, courtroom procedures, the bankruptcy filing process, and filing deadlines.
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6) Hiring a lawyer will save you time. Hiring an attorney will save you countless hours because you no longer have to spend your time researching and reviewing bankruptcy information. In some cases, an attorney can identify shortcuts and streamline the appointment process. The bankruptcy attorneys at Winn at Love, LLC will guide you through the complex procedures and keep you informed every step of the way.
7) You don’t have to deal with paperwork. Filing for bankruptcy requires accurate, detailed and timely paperwork. Having accurate information and sufficient supporting documentation is key. Although much of the information comes from you, an attorney can help you fill out the paperwork and provide legal advice on your disclosures, property valuation, income and expenses.
8) Lawyers have an established relationship with the bankruptcy court, judges and administrators. A bankruptcy attorney has been through this before; they know bankruptcy court etiquette. Lawyers have already built relationships with people involved in the process, which makes it easier for you to communicate. If the trustee requests more information or details, your bankruptcy attorney will be ready.
9) You get protection from harassment by creditors and debt collectors. When you hire a bankruptcy attorney, the harassing phone calls from creditors will stop. If you are represented by an attorney, you can notify creditors or debt collectors and force their phone calls and letters to go through your attorney instead. Once formally filed, an automatic stay is granted, legally extending your exemption from harassment.
Top Ten Reasons To Hire An Experienced Bankruptcy Attorney
10) Lawyers offer you peace of mind and protection from uncertainty. Peace of mind goes a long way. You don’t have to worry about making a mistake, losing your property or getting ready to appear in court. Your bankruptcy attorney will advise you on what’s going on ahead of time, fill out your paperwork properly, and sit by your side at creditor meetings or in court. It is your lawyer’s responsibility to fight for the best outcome for you and protect your rights.
The logistics of bankruptcy paperwork, the bureaucracy of credit reporting, and the tactics of collection agencies can be difficult without an attorney. Although you do not need an attorney to file for bankruptcy, it is highly recommended.
Are you still thinking about filing without an attorney even after going through the list of reasons why you should hire a bankruptcy attorney? If so, you should understand some of the risks involved in representing yourself (pro se representation) in a bankruptcy filing.
One small mistake can cost you everything. If you file incorrectly or if it is incomplete, the bankruptcy judge may dismiss your case. If this happens, you may not be able to file for bankruptcy again in the near future, or if you are able to file again, you may lose protection from creditors taking action against you. Incorrectly listing your assets can cost you not only the debt settlement, but also the loss of the assets you were trying to protect. Bankruptcy attorneys know how to protect your assets and guide you through the process successfully.
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Mistakes can mean criminal charges for fraud or perjury. Committing bankruptcy fraud can land you in jail. You cannot hide assets or income (even those you have not yet received) from the bankruptcy trustee or judge. Do you know the law well enough to avoid this serious situation? Have you given a vehicle, property, gift money or other property to a friend or relative? A bankruptcy attorney can help you file and truthfully list your assets in a way that protects you from criminal charges.
You may end up paying more of your debt. If the trustee and your creditors communicate, will you be able to respond without adversely affecting your bankruptcy filing? If a creditor files a lawsuit or contests the write-off of your debt – how do you react? A bankruptcy attorney can protect your interests, communicate effectively with all parties involved, and save you money when negotiating with creditors.
Meeting with a bankruptcy attorney early in your financial hardship will allow you to explore all options for paying off your debt. If you are unable to make regular payments on your existing debt, filing for bankruptcy may be the solution. The attorneys at Winn at Love, LLC will meet with you to discuss your financial situation and help you decide if bankruptcy is right for you.
Winn at Love, LLC has law offices in Lake Geneva, VI, Delavan, VI and Salem Lakes, VI. Our attorneys provide legal advice and represent residents throughout southeastern Wisconsin. We are a debt relief agency that helps individuals or couples file for bankruptcy relief under the US Bankruptcy Code. Filing for bankruptcy is a complex legal process. The federal court for the Eastern District of Wisconsin oversees bankruptcy cases for residents of Walworth County, Racine County and Kenosha County. Filing for bankruptcy can be a scary process, but it doesn’t have to be. With the help of a qualified bankruptcy attorney, you can navigate the complexities of bankruptcy law and find relief for overwhelming debts. In this article, we explore the benefits of hiring a bankruptcy attorney, from their expertise in handling the legal aspects of your case to their ability to protect your interests and guide you to a fresh financial start.
How A Lawyer Can Assist You During Bankruptcy
Before getting into the benefits of hiring a bankruptcy attorney, it’s important to have a basic understanding of the bankruptcy process itself. Bankruptcy is a legal process designed to help individuals and businesses discharge or discharge their debts under the protection of a federal bankruptcy court. There are different chapters in bankruptcy, including Chapter 7 and Chapter 13, each with their own rules and requirements. A bankruptcy attorney will guide you through the process, making sure you meet all the necessary criteria and helping you make informed decisions about which chapter to file for based on your unique financial situation.
One of the main reasons to hire a bankruptcy attorney is their expertise in bankruptcy law. They have a deep understanding of the intricacies of the legal system and can guide you through the process with ease. From filing the necessary paperwork to representing you in court, an experienced attorney will ensure that your case is handled properly and in compliance with all relevant laws and regulations.
When you file for bankruptcy, you get protection from creditors and debt collectors. However, these parties may dispute your bankruptcy filing or proposed payment plan. A bankruptcy attorney acts as your advocate, defending your petition or payment plan in court and negotiating with creditors on your behalf. Their knowledge of bankruptcy law and experience dealing with creditors will greatly increase your chances of success
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