When Do You Need A Bankruptcy Attorney?

Have you gone bankrupt, but the negative image associated with bankruptcy is forcing you to hide behind the shadows? Filing for bankruptcy isn't a shameful thing to do. On the contrary, it's a smart move that protects you from creditors and could offer you relief from your debt obligations. So, when do you need the services of a bankruptcy attorney?

You Are Becoming Bankrupt

Are your bills piling up and your income is barely sufficient to pay off these bills? If so, you might be going bankrupt. Hiring a bankruptcy attorney can help. The attorney will assess your situation and financial records and determine if you need to file for bankruptcy.

Depending on their findings, they can help you file bankruptcy to save you from sinking further into debt. Besides, with adequate knowledge of the law, they can guide you on starting over and building a better financial life.

Convincing Your Creditors of Your Inability to Repay Them Isn't Working

No one takes out a loan and expects to be unable to pay it back. However, sometimes plans don't go as expected. If you have tried talking to your creditors about your current financial position and they can hear none of it, it's time to involve a bankruptcy attorney.

Creditors are never pleased to learn that their client is bankrupt, and most will take extreme measures to recover their money. Hiring a bankruptcy attorney helps take care of the situation before creditors take matters into their own hands.

There Is a High Chance You Are About to Lose Property

When taking out loans, what did you use as collateral? Often, people use their property and assets as security for loans. So what happens when you don't have the money or means to pay back your creditors?

After defaulting on a loan, creditors consider selling the property you signed up for as collateral. However, by hiring an expert bankruptcy attorney to file bankruptcy for you, you stand a chance to keep your property.

You Don't Know How to File for Bankruptcy

Admitting you are bankrupt and being willing to handle the paperwork by yourself is a bold move. However, bankruptcy is a serious matter. A simple error in the paperwork could cause devastating consequences.

Besides, you also need to provide evidence for bankruptcy as you file your petition. Therefore, you need to have a deep understanding, which could take months to gather. Hiring a bankruptcy attorney helps avoid these mistakes, their consequences, and any delays. 

Additionally, poor filing and lack of supporting evidence could result in the court dismissing your case. An experienced bankruptcy attorney can ensure your claim neither gets dismissed nor delayed.

Would You Like to File for Bankruptcy?

If your income hasn't been able to meet your expenses or debt obligations for some time now, it could be time to file for bankruptcy. Contact a local law firm, such as DiFatta Law Offices LLC, today to schedule your bankruptcy consultation.