A bankruptcy lawyer can help you get a fresh start by erasing some of your debt or reorganizing it into a more manageable repayment plan. Look for Harrisburg PA bankruptcy lawyers who specialize in bankruptcy. Some lawyers rather dabble in multiple areas and you need experience and priority.
A good bankruptcy attorney will have extensive knowledge of all the procedures and deadlines involved. They will also know how to protect your assets by providing thorough documentation for the trustee’s meetings. Bankruptcy can be very stressful and confusing and you need confident professionals who can help you navigate through what is beneficial for you and your family.
Help You Decide if Bankruptcy Is Right for You
A bankruptcy attorney can help you size up your financial situation and advise whether bankruptcy is the right course for you. They can explain the various forms of bankruptcy and how they work, such as Chapter 7 (liquidation) and Chapter 13 (reorganization).
If you’re juggling your debt payments or are already behind on some, a bankruptcy lawyer can help you decide the best way to handle it. They can also identify and eliminate eligible debts and help you keep certain assets by choosing and applying appropriate exemptions.
If you’re plagued by relentless debt collection calls, a bankruptcy lawyer can deal with the creditors on your behalf. They can also help you determine the best way to manage your debt, such as reducing expenses or increasing income. They can also advise you on alternatives to filing for bankruptcy, such as negotiating lower interest rates or selling property. They can also explain your responsibilities in the case and draft an agreement that sets out what each party must do and when.
Help You Find and Present All the Necessary Financial Records
A good bankruptcy attorney will help you gather and present all the necessary financial documents. He or she will also help you value assets, choose and apply exemptions, and understand which debts get wiped out or survive your case.
A lawyer should be able to advise you of less drastic ways to resolve your debt problem, such as through a debt settlement program or debt consolidation loan. A good attorney will also explain that not all debts can be eliminated in bankruptcy, and you may lose certain assets if you file for chapter 7 bankruptcy.
You can find a bankruptcy attorney by asking friends or acquaintances for recommendations or by using an online referral service like Avvo. The Avvo website will ask you to enter your city, and it will return a list of attorneys who specialize in bankruptcy. You can use the site’s filters to search for an attorney who practices your chosen chapter of bankruptcy, who is located near you, and who has experience handling cases like yours.
Help You Deal With Creditors
The filing of a bankruptcy case immediately protects you from creditors and allows you to discharge or eliminate the vast majority of debt. Creditors usually stop calling, writing and threatening legal action once the case is filed.
Filing a bankruptcy case requires extensive paperwork that must be accurate and submitted in the proper format. An experienced bankruptcy lawyer can help you avoid mistakes that could jeopardize your case. For example, if you submit the wrong documents or turn them in after the deadline, your attorney can file an objection to the court and correct the mistake.
Your bankruptcy lawyer can also deal with creditors on your behalf, including negotiating balances, collateral value and interest rate terms to help you keep your car or house in Chapter 13 bankruptcies. He or she can also negotiate payment arrangements that may help you avoid bankruptcy altogether. If you want to learn more about your options for eliminating debt, contact us to schedule a free consultation with one of our Hackensack attorneys.