Bankruptcy Laws Made Easy: Should You Hire a Lawyer?
Wednesday, September 9, 2015, 6:00 AM | Leave Comment
Over the past few years, you’ve acquired a great deal of debt. You know can’t reasonably pay the expenses in the next three years, and you don’t have the means to settle your debt and buy groceries in the same month.
As a result, bankruptcy remains your only option. You’ll have to surrender some of your key assets, but you’ll finally clear your debt and start fresh.
Understandably, you worry that you’ll need to hang onto every penny for the foreseeable future, and a bankruptcy lawyer seems like an unnecessary expense.
So which situations justify hiring a lawyer?
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You Need Protection from a Creditor
Collection agencies will do almost anything and everything to bring in the amount due. They may call you frequently throughout the day or even contact your employer in an attempt to acquire some of your wages.
When you hire a lawyer, tell your creditor to call your lawyer’s office rather than your home or work numbers. Your lawyer can make an attempt to stop the calls as well as save you the time and stress of dealing with harassment.
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You Need Help Filing the Paperwork
Bankruptcy involves a lot of paperwork, including filing a petition and filling out bankruptcy court forms specific to your area. These forms will need to include a list of all your debts, assets, income, expenses, and other personal information.
Additionally, you’ll need to acquire a certificate of credit counseling and complete tax returns for the most recent year while your case remains open.
You’ll also have to submit copies of pay stubs and other proof within 60 days prior to filing, and you can’t forget to make a statement of anticipated changes in income.
With any of these forms, you could easily make a mistake, which may lead the court to dismiss your case. But with the help of Josh Johnson or a lawyer in your particular locale, you can make sure each important document receives the care and attention it requires.
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You Need Insight into Local Laws
Your bankruptcy petition often goes beyond paperwork. You may have to maintain communication with the court as well as meet with trustees who review and judge your case. Everything you say or do could affect the outcome of your bankruptcy.
A bankruptcy lawyer can give you extra confidence when dealing with creditors, and your attorney can help you understand local laws that will save you time and money.
For example, if you have debt older than 15 years old, he or she may let you know about any statute of limitations that apply.
These are just three instances when you’ll want a lawyer to help you with your bankruptcy, though most lawyers do much more than that. If you need further information about your case, ask a lawyer for a free consultation.
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