Whether you have done it before or are completing your first petition, filing for bankruptcy can be a daunting task. Unfortunately, many people make the mistake of going through the process without a lawyer on their side to advocate for them and provide honest answers to their questions. If you’re about to file for bankruptcy without an attorney, here’s why you may want to reconsider doing so:
1. Bankruptcy can take a few different forms, including the popular Chapter 7 and Chapter 13. If you’re in the midst of deciding which type of bankruptcy will be right for your situation, then you can definitely benefit from hiring legal counsel to help you come to the best conclusion. They’ll be able to help you evaluate the results of your means test to find out whether you qualify for Chapter 7 or assist you in determining whether your income is sufficient enough to create a solid repayment plan for Chapter 13 bankruptcy.
2. Some people find themselves in financial trouble even after they’ve declared bankruptcy in the past. If this sounds like your situation, it’s a good idea for you to hire an experienced bankruptcy attorney. There are serious legal consequences (such as not being eligible for a debt discharge) when it comes to filing repeat petitions, and it’s likely that you’ll need help understanding what they are and how they may affect your particular situation.
3. Filing for bankruptcy requires you to make major decisions that could affect your financial outlook well into the future. Consulting with an attorney help you avoid making mistakes that could come back to haunt you later. For example, some of your creditors may contact you to ask that you sign reaffirmation agreements that state that you will repay your debts according to the original loan terms. If this would not be beneficial for you, your Bankruptcy Attorney in Tuscaloosa will let you know.
Your decision to file for bankruptcy is not one that should be taken lightly. Instead of allowing yourself to wallow in uncertainty or risk making serious mistakes in filing your petition, it’s best to get in contact a qualified attorney who can help you make sure things are done right. If you’re in the midst of declaring bankruptcy, click here to investigate how you can speak with a legal professional about getting a successful outcome in your case.