Choosing to file for Chapter 7 bankruptcy is a major decision. Before individuals start this process, they should ensure that they have all the help that they can get. Personal bankruptcy services offer several important advantages for anyone dealing with this situation.
1. Attorneys Know the Laws
Attorneys that specialize in bankruptcies understand the various laws. These laws are complicated for everyone, including most attorneys. Individuals attempting to go through this alone are more likely to make mistakes or not receive the benefits they deserve.
The various laws and regulations concerning bankruptcies are also constantly changing. Experienced attorneys keep up with these changes to ensure that their clients always have the right information.
2. Stop Harassment from Lenders
Debt collectors can get pushy when it comes to collecting money. When an account becomes delinquent and sent to a collection agency, the agency may start calling the home and work of the person that owes money.
Creditors are supposed to stop contacting the debtor when they file for bankruptcy. Unfortunately, the calls may continue. An attorney can help put an end to these phone calls and harassment.
3. Attorney Can Negotiate with the Creditors
Along with stopping the creditors from harassing their clients, attorneys can negotiate with the creditors. The attorney negotiates on behalf of their clients. In fact, after hiring the attorney, all communication between the creditors and debtor need to be handled through the attorney.
As attorneys have experience negotiating with creditors, they may even help lower the total debt and craft a deal that pleases all parties.
4. Attorneys Shorten the Bankruptcy Process
Due to the complexity of filing, individuals may find that the process takes a long time. However, an attorney keeps the process moving, helping to ensure that things get done faster.
Attorneys know who to talk to at your local bank and which forms are needed. They have gone through this process multiple times and may even know a few shortcuts to help speed things up.
5. Attorneys Help Prevent Mistakes
The complexity of bankruptcies extends to the paperwork. When people fill out the forms incorrectly, they may end up paying costly fees or penalties. These mistakes may also result in delays to the process.
Attorneys have filled out these forms before and can ensure that the paperwork is properly completed. They also review the paperwork for errors, reducing the risk of mistakes.
6. Hiring an Attorney Makes It Less Scary
In the end, the main reason for hiring an attorney for bankruptcies is for support. These proceedings are complex, time-consuming, and frightening for those who have not filed before.
By allowing an attorney to negotiate with creditors and complete all the paperwork, the person that is filing bankruptcy can focus on meeting their obligations. They can ensure that they are doing everything possible to avoid creating additional debt.
While hiring an attorney costs money, the typical attorney fees are often less than the amount saved by filing Chapter 7. Instead of attempting to go through this process alone, it is always a good idea to consult with an experienced attorney who specializes in bankruptcies.