When you’re in dire financial straits, hiring yet another service may seem like an unsound money move. However, if that person is a bankruptcy lawyer, it will ultimately pay off. Here are 4 ways that a bankruptcy lawyer is more effective than a DIY bankruptcy.
Stop Collections Calls Immediately
For most of us, the reason that we finally decide to begin the bankruptcy process in the first place is to halt the constant barrage of creditor harassment, via telephone, email, and post. From the moment you officially file bankruptcy, creditors must halt the collections process. However, for most people, the relief comes even faster–as soon as you have a consultation with a bankruptcy attorney. When creditors are informed that you are now represented by an attorney, their calls and letters usually must go through your attorney. Additionally, they’re discouraged from filing a suit against you, partly because you have representation behind you, but also because they’re assured that you’re in the filing process and the debts will be legally discharged.
Error-Free Filing
The process of filing for bankruptcy can be complicated, requiring layers of paperwork. Many individuals aren’t even sure whether Chapter 7 or 13 bankruptcy is right for them. Mistakes in paperwork and filing can lead to months of delays in the slow-moving bureaucratic machine of the court, and even penalties for the one who is filing. By hiring an attorney, you know that you’re getting it right in the first try.
Negotiate the Best Deal for You
Part of the process of both Chapter 7 and Chapter 13 bankruptcy is negotiating with creditors for payment terms. This process might include determining which of your assets (such as a house or car) are safe from repossession. It can also include determining credit interest rates. Those creditors are trying to get a settlement that’s to their advantage. By utilizing the help of an experienced bankruptcy attorney, you have someone who’s fighting for your benefit so that you can live better and recover faster from bankruptcy.
Understand What’s Happening Beginning to End
One of the most important functions of a bankruptcy lawyer is to walk you through the process. Bankruptcy and financial duress is one of the most stressful experiences you can go through. Trying to handle filing processes, communication with essential contacts, court dates, deadlines, asset valuation, and payment process all by yourself is overwhelming. A bankruptcy attorney is an experienced guide who can help you understand the process and what to expect next. In some cases, a bankruptcy attorney can even help you find an alternative to filing for bankruptcy.
Here at Rulon T. Burton, we believe that representing clients through the bankruptcy process is more than a job; it’s an opportunity to help people in one of the most taxing experiences of their lives. Call today for a consultation.