A look at the reasons why you need to contact a bankruptcy attorney

Filing your bankruptcy case seems to be the right idea of saving the fees of a bankruptcy attorney but it often proves costly down the road. However, you need to understand the actual logic behind this.

First off, every person who has gone bankrupt is legally entitled to filing for bankruptcy. Some may go it alone while others may hire a bankruptcy attorney.

There is no doubt that you can save the fees of your potential attorney subject to the condition that your case is simple or your case is not very complicated. Even though saving money by going it alone seems to be a good idea apparently but that is not always the case since it might backfire on you because an average person often fails to understand complex legal terms.

There are two situations when it may cost you more than going it alone:

In the event that your case is associated with Chapter-7 accompanied by valuable assets

In the event that your case can be filed under the bankruptcy chapter-13

How can you save hiring a bankruptcy attorney?

A bankruptcy attorney is quick to notice anything abnormal during the entire course of bankruptcy and deal with it without making undue dangerous delays

Bankruptcy alternative:  It is important to mention that filing for bankruptcy is not the only solution or the last resort.

In case your bankruptcy attorney understands that there is no need for filing bankruptcy as you can manage your affairs or reduce your debts without filing a bankruptcy, your bankruptcy attorney will advise you try a bankruptcy alternative.

Bankruptcy type: Chapter 7 and chapter 13 are not for the same objective. If you have not paid some mortgage payments, chapter 7 can’t help you save your house even though it can help you reduce some burden of debts from your shoulders.

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Understanding when you should hire a bankruptcy attorney & when you shouldn’t

When it comes to filing for bankruptcy, you are legally entitled to do so in the first place. Now, it is up to you whether you go it alone or you hire a bankruptcy attorney to represent your case so that you can get a sure or better outcome in the end.

In a simple case, there is no need to hire a bankruptcy attorney as it may save you a bankruptcy attorney’s fee. However, you need to make sure that your case doesn’t involve valuable belongings when you want to file it using Chapter 7 or when you think or someone has advised you to file for your bankruptcy using Chapter 13. In these two conditions, going it alone is not financially beneficial at all.

A few very important benefits of hiring a bankruptcy attorney

One of the main benefits of hiring a bankruptcy attorney is their professional ability to deal with a potential problem that might arise during the entire bankruptcy course.

Another big advantage of hiring a bankruptcy attorney is that they can tell you a good alternative option instead of filing for bankruptcy in the event that the bankruptcy is not the last resort in your case.

A bankruptcy attorney can better advise you the perfect type of bankruptcy you should file. There are two major bankruptcy types:

Bankruptcy Chapter 7

Bankruptcy Chapter 13

For example, bankruptcy under chapter 7 can help you eliminate a lot of debts but it is no worth when a homeowner needs to save their house as they have not paid some mortgage payments.

A bankruptcy attorney can better understand the way you have to make use of the bankruptcy means test. This is the test that will indicate what type of bankruptcy you are entitled to file.

Everyone is not easily eligible for having their debts wiped out using Chapter-7 bankruptcy. In the absence of a bankruptcy attorney on your side, you will not be able to make the correct appraisal of your valuables and assets.

An overview of filing for bankruptcy with & without an attorney

The benefits of hiring a bankruptcy attorney are numerous. You’ve gone bankrupt and so you need to declare bankruptcy using the existing bankruptcy laws such as those mentioned in Chapter 7 and Chapter 13. However, it is very important to understand the difference between both of them as both of them are for the same purpose of declaring bankruptcy.

Depending on the severity or condition of your bankruptcy state, an expert bankruptcy attorney can better advise you about what type of bankruptcy declaration can better work for you. So, there are so many reasons why you need to hire a bankruptcy attorney instead of doing it on your own.

Filing a bankruptcy case alone either saves you some money or costs you a fortune, but in most cases, the studies show that people who make a DIY attempt have to suffer more loss than the amount of money they want to save. The idea of saving money is not bad but when it is obvious that the way you want to save it is not feasible as you are not able to come up to the mark, there is no use of making an abortive attempt as it will give you nothing but a useless waste of time & money.

Of course, making an abortive attempt like doing the roofing job all alone or with the help of some buddies makes no sense because you might face a big financial or physical loss that might be irreparable for the rest of your life. In order to get debt relief, the best thing to do is to hire a bankruptcy attorney who can be with you from start to finish. Without any doubt and confusion, you are legally entitled to file for bankruptcy alone or with the legal assistance from a reliable bankruptcy attorney but what you must understand and keep in mind is ‘outcome’ or ‘consequence’ of your action.