When you file for bankruptcy as an individual, chances are you’ll either file for Chapter 7 or Chapter 13 status.
Chapter 7 bankruptcy is often referred to as “liquidation bankruptcy,” which dismisses most of your debt if your income is relatively low. Chapter 13 bankruptcy is more of a reorganization of debt.
In either case, it pays to hire a reputable bankruptcy lawyer when you file for bankruptcy. Here’s why.
Won’t Rip You Off
A reputable bankruptcy lawyer in Lutz will not overcharge you or tack on bogus expenses. Instead, he’ll offer you a competitive rate that’s affordable. He may even let you pay the fee over several months. Most Chapter 7 bankruptcy cases, for example, cost between $1,000 and $1,750, according to Nolo. The cost is largely contingent upon where you live or the complexity of your finances.
Expertise and Knowledge
Bankruptcy attorneys are specialists who have earned law degrees and passed bar exams. They’re also familiar with the bankruptcy process, which can be quite complicated. Furthermore, your bankruptcy legal team can better help you negotiate with creditors and stop annoying phone calls.
Assist With Paperwork
You’ll likely have a lot of paperwork to complete when you file for bankruptcy. Hence, your bankruptcy lawyer in Lutz will help you get it completed and sent to the appropriate parties. This will keep your case active and prevent a dismissal because you missed a deadline.
Better Chance of Success
Your bankruptcy lawyer in Lutz will give you the best chance at a successful bankruptcy case. This enables you to either eliminate most debt or reorganize your monthly payments so that they’re more manageable.
Hiring a bankruptcy attorney will also save you a tremendous amount of time. Instead of having to deal with creditors and their attorneys, you’ll have professional representation to handle these tasks.
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